Interactive Strength (TRNR), a Nasdaq-listed fitness equipment maker, is launching what it calls the world’s first artificial intelligence-focused cryptocurrency treasury—highlighting the expanding interest in Web3 across diverse industries.
The company, known for its CLMBR and FORME fitness products, has signed a Securities Purchase Agreement to raise up to $500 million in capital to acquire Fetch.ai tokens, according to a June 11 announcement shared with Cointelegraph.
If completed, the deal would position Interactive Strength as the holder of the largest corporate AI token treasury globally, the company said.
Interactive Strength has begun building its AI token treasury with an initial $55 million investment in Fetch.ai (FET) tokens, backed by private equity firm ATW Partners and crypto market maker DWF Labs.
“AI represents the biggest technological leap of our lifetime,” said TRNR CEO Trnet Ward.
“We believe our strategy to acquire a substantial amount of $FET tokens could significantly accelerate our mission to generate long-term value for TRNR shareholders,” he added.
