California-based startup Faraday Future has announced a $10 billion strategy that merges artificial intelligence technologies with the crypto economy. The initiative was unveiled at an event in Pebble Beach.
EAI + Crypto Strategy
Faraday Future integrates its Embodied AI (EAI) platform with a Web3-powered financial system to create a two-way, self-sustaining loop. This system aims to leverage the long-term value of AI-driven electric vehicles and the high potential of digital assets.
Launch of Crypto 10 and C10 Index
The company plans to launch the Crypto 10 treasury product, investing between $500 million and $1 billion in digital assets while exploring tokenized vehicle sales. An initial investment of $30 million in crypto is set to be made, accompanied by the introduction of the C10 Index, tracking the top 10 non-stablecoin digital assets.
Support from Authorities
California State Treasurer Fiona Ma expressed public support for the strategy, calling it a bold move that could create quality jobs and attract global capital.
Faraday Future's strategy serves as a financial experiment that could significantly impact the company's development and resilience to new financial and technological challenges.
