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Renowned investor and “Shark Tank” personality Kevin O’Leary acknowledged Tuesday the enhanced role of artificial intelligence and blockchain technology in driving cost efficiency and productivity across sectors. ‘Every Sector Leveraging AI’ In an X post, O’Leary admitted that three years ago he viewed AI as a “hype,” but now sees it as a real driver of economic growth. “Every sector is now leasing AI to cut costs and boost productivity. That's why the indexes are hitting new highs,” O’Leary said. Bitcoin Miners Secure Lucrative AI Deals The argument was particularly valid for some Bitcoin (CRYPTO: BTC) mining companies, which have lately entered into multi-billion-dollar partnerships with leading technology and cloud leaders to provide AI infrastructure services. IREN Ltd (NASDAQ:IREN) secured a five-year, $9.7 billion contract with Microsoft Corp. (NASDAQ:MSFT) to provide access to Nvidia Corp.’s (NASDAQ:NVDA) latest GB300 GPUs for cloud-based AI services. Similarly, Cipher Mining Inc. (NASDAQ:CIFR) announced a 15-year, $5.5 billion lease with Amazon.com Inc.’s (NASDAQ:AMZN) AWS to deliver 300 megawatts of turnkey AI infrastructure. MARA Holdings Inc. (NASDAQ:MARA) CEO Fred Thiel admitted that investors currently place limited value on the Bitcoin mining business, but that the company's expanding focus on energy generation and AI could get it more attention in the future. See Also: Best AI Stocks Stablecoins, Blockchains Also A Growth Area, Says O’Leary O’Leary then shifted the focus to blockchains, particularly their role in aiding stablecoin payments. “We're seeing blockchain merge with real-world payments, not cryptocurrency speculation, but billions of transactions backed by the U.S. Treasury,” the “Shark” said, referring to dollar-pegged cryptocurrencies that are backed by cash and cash equivalents. He anticipated stablecoins to become a “world standard” for micropayments, and that blockchain would become part of the “real narrative.” O’Leary, also known as “Mr Wonderful,” has been bullish on the prospect of AI, describing it as one of the smartest investments small business owners can make. He has been known for his long-standing belief in the potential of Bitcoin and Ethereum (CRYPTO: ETH) along with cryptocurrency infrastructure companies, including Coinbase Global Inc. (NASDAQ:COIN) and Circle Internet Group Inc. (NYSE:CRCL) Visit Benzinga Edge Stock Rankings and discover how top stocks on Wall Street score across 5 vital metrics of Momentum, Value, Growth, Quality and Trends. Read Next: MARA CEO Fred Thiel Notes Bitcoin Mining Gets Little Love From Investors, But Hopes Energy, AI Ventures Will Draw ‘More Attention’ Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. Photo courtesy: Kathy Hutchins / Shutterstock.com
