Paolo Ardoino (파올로 아르도이노), chief executive of Tether, warned that big tech’s race to invest in AI infrastructure is building structural mismatches. He said AI data centre expansion relies on subsidised computing and hardware that loses value sharply within 3 to 5 years, making the current investment approach potentially unsustainable. Banks see soaring capital spending through 2030, while returns remain uncertain and companies begin tightening controls on AI-related costs.

Dan Ives, Wedbush Securities\' leading technology stock analyst, is leaving the firm to set up a commercial bank targeting the technology, energy, infrastructure and financial industries. Business Insider reported he is preparing the launch after eight years at Wedbush, with large companies and high-net-worth individuals as key clients. Ives said in an internal email he enjoyed his time at Wedbush and built a strong technology franchise. Details of the bank\'s structure, capital and timetable have not been disclosed.