Tether Backs Italian Humanoid-Robotics Firm as AI Push Builds

Stablecoin giant Tether has joined a €70 million ($81.6 million) funding round for Italy-based Generative Bionics, a humanoid-robotics startup developing industrial robots built using research from the Italian Institute of Technology.

The round was led by CDP Venture Capital, Italy’s state-backed venture investor, through its Artificial Intelligence Fund, Generative Bionics said in a statement seen by Bloomberg. AMD Ventures, the investment arm of US chipmaker Advanced Micro Devices, and other industrial backers also joined the round.

The investment represents the latest move in a spree of dealmaking by Tether, the issuer of world’s largest stablecoin USDT. Stablecoins — ...