Understanding the Intersection of Crypto and AI

This report examines how crypto and AI are intersecting, focusing on decentralized compute protocols, zero-knowledge machine learning (zkML) infrastructure, and AI agents. It argues that crypto offers AI a permissionless, trustless settlement layer, while AI can improve user experience and smart contract automation. The report says demand for high-performance GPUs, with wait times of at least six months, provides a tailwind for decentralized compute, which can sublease excess capacity. It also cites Tether's reported $420 million purchase of 10,000 H100 GPUs through a stake in Northern Data, and describes Akash, which launched its GPU mainnet in September.