# Сопутствующие статьи по теме AI

Новостной центр HTX предлагает последние статьи и углубленный анализ по "AI", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

VC Retrospective 2025: Compute is King, Narrative is Dead

Venture Capital Review 2025: Compute is King, Narrative is Dead The article reflects on the challenging yet transformative year of 2025 for crypto and AI investments. While on-chain financial tools and the machine economy saw significant growth, long-term crypto investors faced a difficult market structure plagued by a "negative prisoner's dilemma," premature token unlocks, and a major market failure in October that triggered industry-wide deleveraging. Despite these setbacks, the value creation in crypto and AI over the past decade has been immense, far outpacing other regions and sectors. The "Magnificent 7" tech giants and crypto assets collectively added trillions in market cap. The key lesson from 2025 is that value accrued to the narratives but to the owners of physical and financial bottlenecks: power, semiconductors, and scarce compute. Public market winners were companies like NVIDIA, TSMC, IREN, and Bloom Energy. In software, value flowed to embedded, "must-have" platforms (e.g., Alphabet, Meta) rather than optional tools. In private markets, foundational AI companies grew rapidly but faced fragility, while value-controlling companies (e.g., Applied Intuition, Anduril) were better positioned. Tokenized networks were the weakest performers, as usage failed to translate into token value capture. The core takeaway is that the market rewarded ownership of choke points and punished projects lacking control over cash flow or compute. For 2026, the investment focus shifts downstream to: (1) machine transaction surfaces (payments, billing, compliance), (2) applied infrastructure with existing budgets, and (3) high-conviction, non-consensus opportunities. The allocation will temporarily favor equity over tokens until market structure issues are resolved. The author concludes that a major shakeout is coming, but it also presents significant opportunity. The need to move beyond collective illusions and focus on real, budget-backed economic activity is paramount.

比推12/23 23:11

VC Retrospective 2025: Compute is King, Narrative is Dead

比推12/23 23:11

Cipher enters US wholesale power market with Ohio data center acquisition

Cipher Mining has acquired a 200-megawatt power site in Ohio, marking its first expansion outside Texas and entry into the PJM wholesale electricity market. The site, expected to be operational by Q4 2027, is suitable for Bitcoin mining, high-performance computing, and data center use. This move addresses growing demand from hyperscalers like Amazon Web Services and Google Cloud. The acquisition reflects a broader trend of Bitcoin miners diversifying into power, data center, and infrastructure ventures amid ongoing pressure on mining profitability. Despite low hash prices, mining stocks have surged in 2025, with investors focusing on long-term strategic positioning rather than short-term Bitcoin production.

cointelegraph12/23 19:12

Cipher enters US wholesale power market with Ohio data center acquisition

cointelegraph12/23 19:12

Altcoins slide deeper into fear: Only 3% stay above long-term support

The altcoin market has experienced a severe downturn since early October, losing over $580 billion in value, with total market capitalization now at $1.19 trillion. Only 3% of altcoins on Binance are trading above their 200-day Simple Moving Average, indicating extreme weakness and limited long-term holder activity. The recent downturn was exacerbated by a liquidation event on October 10 that wiped out nearly $19 billion in leveraged positions. Despite the broad decline, a few assets like AI-related tokens Aurelia and Pippin, along with privacy coins such as Zcash, Dash, and Monero, have posted gains over the past three months, reflecting concentrated investor interest in narrative-driven assets rather than the broader market. Market sentiment remains fearful, with the Fear and Greed Index at 29. Technical indicators suggest a potential rebound may be near. The Bollinger Bands show compression near the lower band, historically a support level, while the Accumulation/Distribution indicator signals ongoing buying interest. However, any recovery may be brief, with altcoin market cap potentially rising to $1.21 trillion in the near term.

ambcrypto12/23 19:03

Altcoins slide deeper into fear: Only 3% stay above long-term support

ambcrypto12/23 19:03

Bitmine Ethereum Holdings Surpass 4M — Can ETH Price Surge to Tom Lee’s $62,000 Prediction?

Bitmine, the world's largest corporate holder of Ethereum, has increased its holdings to over 4 million ETH, valued at more than $12 billion. The company purchased an additional 13,412 ETH worth approximately $40.6 million on December 22, contributing to a weekly accumulation of nearly 99,000 tokens. Bitmine Chairman Tom Lee remains highly bullish on Ethereum’s long-term value, predicting it could surge as high as $62,000 if it reaches a 0.25 ratio against Bitcoin. He argues Ethereum is "grossly undervalued" at current prices and positioned to benefit significantly from the tokenization of traditional assets like stocks and real estate. However, AI models like ChatGPT and Grok express caution. While acknowledging Ethereum’s strong fundamentals and institutional adoption, they highlight near-term challenges including low seller exhaustion, weak momentum, and high market volatility. Technical analysis suggests ETH could drop toward $2,740 if selling pressure continues, though a breakout above $3,163 remains possible with improved volume and sentiment. At the time of reporting, Ethereum was trading around $2,967.

ccn.com12/23 13:32

Bitmine Ethereum Holdings Surpass 4M — Can ETH Price Surge to Tom Lee’s $62,000 Prediction?

ccn.com12/23 13:32

Racing to Be the First Stock: The Substance, Capabilities, and Ambition of China's Largest Independent Model Company

Zhipu AI, China's largest independent large language model (LLM) company by revenue, has passed its listing hearing on the Hong Kong Stock Exchange with a valuation of RMB 24.377 billion. Its IPO filing provides the first clear look at the financials of a major Chinese LLM player. From 2022 to 2024, Zhipu's revenue grew at a 130% CAGR, reaching RMB 310 million in 2024. Nearly 85% of its revenue comes from on-premise model deployments for enterprise clients, with the remainder from its MaaS (Model-as-a-Service) platform. Despite rapid revenue growth, the company reported significant adjusted net losses, driven overwhelmingly by R&D expenses which reached RMB 1.59 billion in H1 2025. A major portion of these costs is attributed to computing power, essential for training its flagship models. A key part of Zhipu's strategy is a "land and expand" approach: using strategic price cuts on its MaaS platform to attract a large user base (over 1.2 million enterprise developers) and then converting them into high-value on-premise clients. The release of its powerful open-source base model, GLM-4.5/4.6, which ranks among the top global models in several benchmarks, led to an exponential increase in API calls and token consumption. The company is betting that continued heavy R&D investment is necessary to stay at the forefront of the intensely competitive global AI market. Its leadership believes that possessing a superior base model is the ultimate product and the key to long-term growth, even if it requires substantial short-term losses. As one of the first Chinese LLM firms to file for an IPO, Zhipu's market debut is poised to be a major test for valuing China's independent AI industry.

marsbit12/23 11:13

Racing to Be the First Stock: The Substance, Capabilities, and Ambition of China's Largest Independent Model Company

marsbit12/23 11:13

Over 80% of New Tokens Peak at TGE, The Root Cause and Cure for Web3's False Prosperity Lies Here

More than 80% of new tokens in 2025 have seen their Fully Diluted Valuation (FDV) fall below their initial TGE valuation, with a median decline of 71%. Only 15% of tokens performed better post-TGE. This trend indicates that for most projects, the token generation event (TGE) represents their peak valuation. Statistical analysis of 113 token launches reveals that common success metrics—such as high fundraising amounts, large social media followings, and listings on major exchanges—have little to no statistical correlation with token performance. Projects raising more capital (e.g., over $10 million) did not perform better than those raising less (e.g., $300k–$500k). In fact, lower-funded projects often delivered higher returns per dollar raised. Social community size proved irrelevant; most "communities" are speculative and disappear when token prices fall. Token pricing also matters: tokens priced between $0.01–$0.05 at launch had the highest survival rate, while those priced outside this range generally failed. AI-related tokens outperformed others in both peak and current returns, while Gaming and DeFi sectors struggled significantly. Launch platforms (IDOs/IEOs) did not ensure success—most tokens on these platforms fell 70–93% post-launch. The root issue is a market that prioritizes hype over substance, narrative over data, and promises over products. To survive in 2026, projects should focus on lean fundraising, realistic token pricing, product-market fit, and tangible metrics like user retention and revenue—rather than vanity metrics. The old playbook is broken; a new, pragmatic approach is essential.

Odaily星球日报12/23 09:55

Over 80% of New Tokens Peak at TGE, The Root Cause and Cure for Web3's False Prosperity Lies Here

Odaily星球日报12/23 09:55

One Image, Recalling the Sweet, Sour, Bitter, and Spicy of the Crypto World in These 12 Months

"Reflecting on Crypto's Rollercoaster 2025: A Year in Review" January kicked off with AI tokens like AI16Z and political memes like $TRUMP surging, alongside optimistic U.S. policy shifts, though AI narratives cooled by month-end. February saw major setbacks: Bybit’s $1.5B hack, meme scams like $LIBRA, and a brutal market correction. March mixed policy hope (Trump’s "strategic Bitcoin reserve") with meme crashes and Hyperliquid’s $12M crisis. April brought relief: tariff pauses, ETH ETF options, and a market rebound. May was euphoric—BTC hit $110K, DAT narratives boomed, and platforms like Believe and Virtuals surged. June highlighted stablecoins: Circle’s explosive IPO and Plasma’s $10B raise, while DAT expansions and tokenized stocks gained traction. July celebrated the GENIUS Act, BTC/ETH new highs, and tokenization growth. August featured exchange token rallies (OKB +400%) and macro data on-chain, but also celebrity meme drama. September saw Fed rate cuts, Tether’s valuation spike, and Aster’s 2800% rally. October started with the viral "Binance Life" meme but crashed in a historic $19B liquidation. November was brutal—BTC fell to $80K, though privacy coins like ZEC rallied 1200%. December closed quietly, a "silent bear market" with fading hype and hopes for 2026.

深潮12/23 07:37

One Image, Recalling the Sweet, Sour, Bitter, and Spicy of the Crypto World in These 12 Months

深潮12/23 07:37

Assessing why AI tokens are set to lead the 2026 crypto charge

The crypto market faces saturation, capping individual coin values and favoring speculative assets like memecoins. However, AI tokens are gaining significant traction, positioned to lead the market by 2026. This shift is driven by the accelerating AI narrative in the U.S., where nearly $3 billion was invested in AI adoption in 2025 alone. AI tokens, such as Bittensor (TAO), have outperformed memecoins like Dogecoin, adding nearly $420 million in market cap. Capital flows, relative performance, and narrative alignment suggest a rotation toward AI-driven assets, positioning them at the intersection of crypto adoption and AI investment. The groundwork is being laid for a potential AI-led market cycle in 2026.

ambcrypto12/23 06:04

Assessing why AI tokens are set to lead the 2026 crypto charge

ambcrypto12/23 06:04

2025 Asset Review: Why Did Bitcoin Significantly Underperform Gold and U.S. Stocks?

In 2025, Bitcoin underperformed compared to gold and U.S. equities, particularly AI-driven tech stocks like NVIDIA, due to several fundamental factors. First, the rise of generative AI created a more efficient energy-to-value conversion, diverting capital and electricity from Bitcoin mining to high-margin AI data centers. This shift prioritized productivity gains over digital scarcity. Second, gold’s atomic-level physical certainty made it a superior hedge against geopolitical instability and systemic risks, whereas Bitcoin remains reliant on digital infrastructure and liquidity channels. Third, Bitcoin ETFs institutionalized the asset, reducing its volatility and aligning it more with traditional risk models, dampening its speculative appeal amid prolonged high-interest rates. Finally, the opportunity cost of holding non-cash-flow-generating Bitcoin increased as investors chased exponential growth in AI. Bitcoin’s current phase represents a recalibration within a complex system—yielding temporarily to AI-driven productivity and defensive asset demand—rather than a long-term failure. It remains a potential long-term store of value awaiting future liquidity cycles.

比推12/23 03:33

2025 Asset Review: Why Did Bitcoin Significantly Underperform Gold and U.S. Stocks?

比推12/23 03:33

Over 80% of New Tokens Peak at TGE: The Root Cause and Cure for Web3's False Prosperity

Nearly 85% of tokens launched in 2025 have seen their fully diluted valuation (FDV) fall below their initial TGE valuation, with a median decline of 71%. Only 15% of new tokens outperformed their TGE price. This trend reveals systemic issues in the Web3 space, where high fundraising, large communities, and major exchange listings—often considered markers of quality—show no statistical correlation with token performance. Key findings include: - Projects raising $1 million performed similarly to those raising $10 million. Excessive funding often leads to faster token failure due to investor unlocks and market pressure. - Community size (e.g., 50k vs. 500k followers) has no predictive value for token success. Most "communities" are speculative and disappear when prices drop. - Token pricing is critical: tokens priced between $0.01–$0.05 at launch showed the best survival rates, while those outside this range often failed. - AI tokens outperformed others in both peak and sustainability, while Gaming and DeFi sectors struggled severely. - IDO/IEO platforms provided no reliable protection; most launches resulted in significant losses. The root causes include flawed tokenomics, over-reliance on speculative metrics, poor timing, and a market that prioritizes narrative over substance. The article urges builders in 2026 to focus on sustainable fundraising, realistic token pricing, product-market fit, and genuine metrics like user retention and revenue—rather than vanity indicators. The old playbook is broken; adaptation and integration are essential for survival.

marsbit12/23 03:07

Over 80% of New Tokens Peak at TGE: The Root Cause and Cure for Web3's False Prosperity

marsbit12/23 03:07

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