Lucía Peña
Interactive Strength (NASDAQ: TRNR), a U.S.-based fitness equipment manufacturer, has revealed plans to raise up to $500 million through a securities purchase agreement. The capital will be used to acquire a substantial stake in Fetch.ai’s native cryptocurrency, FET, marking a bold move at the intersection of artificial intelligence and blockchain.
The company has already initiated its acquisition by deploying $55 million from strategic investors DWF Labs and ATW Partners to begin purchasing FET tokens.
“Fetch.ai is leading innovation where AI meets crypto, the two most transformative technologies of our time,” said Trent Ward, CEO of Interactive Strength. “We believe a significant FET position can catalyze our long-term mission and drive sustainable value for TRNR shareholders.”
Fetch.ai Partnership to Power Smart Fitness Innovation
Fetch.ai operates a decentralized AI platform that uses autonomous agents to power advanced tools across sectors like fitness, logistics, and finance. As part of the collaboration, Interactive Strength will integrate Fetch.ai’s technology into its AI-driven personal training system, enhancing user experience and customization.
To ensure secure handling of its digital assets, BitGo—a leading crypto custodian—has been tapped to manage custody and trading of the company’s FET holdings.
Token and Market Overview
Currently, FET ranks as the 61st largest cryptocurrency by market capitalization, standing at approximately $2.1 billion, based on data from PRIME. In contrast, Interactive Strength’s market cap is around $8 million, according to Google Finance.
AI + Blockchain: A Rapidly Growing Convergence
The move underscores a broader trend where corporations are increasingly adopting crypto and AI within their business models. Just last month, Tether introduced Tether AI, an open-source framework designed to bring decentralized AI capabilities to various devices and platforms.
Interactive Strength’s pivot to crypto-backed assets follows a series of corporate treasury allocations into digital currencies like Bitcoin, Ether, and Solana, as more firms look to diversify holdings and capitalize on favorable regulatory momentum in the U.S. market.
