Decentralized finance (DeFi) is awash with stablecoins earning Treasury yields, while smaller players in the artificial intelligence (AI) industry struggle to raise capital for expanding data centers with new GPUs. A new stablecoin protocol called USD.AI wants to bridge that gap by turning crypto’s idle liquidity into loans for the machines that train and run artificial intelligence. The protocol, which now counts about $345 million in circulation, according to a Dune Dashboard, backs its synthetic dolla ...

QumulusAI, a company building GPU-powered cloud infrastructure for artificial intelligence, has locked in a $500 million credit facility to fund its growing fleet of graphics processing units (GPUs). The financing was arranged by Permian Labs and will be distributed via USD.AI, a blockchain-based credit protocol that connects crypto liquidity to real-world infrastructure, according to an announcement shared with CoinDesk. The non-recourse facility will allow QumulusAI to borrow stablecoins against up to ...