The next investment craze

Agentic commerce

The next investment craze isn't a new angle on the supply chain for data centres - it's the ecosystem that allows agents to participate in commerce and enjoy independence (for better or worse). But first, consider what we're witnessing right now. The following was recently reported:

”Early one morning, our team was urgently convened after Alibaba Cloud’s managed firewall flagged a burst of security-policy violations originating from our training servers … In the most striking instance, the agent established and used a reverse SSH tunnel from an Alibaba Cloud instance to an external IP address - an outbound-initiated remote access channel that can effectively neutralize ingress filtering and erode supervisory control. We also observed the unauthorized repurposing of provisioned GPU capacity for crytocurrency mining, quietly diverting compute away from training (…and crypto into the Agent’s wallet).”

[Pictured: Clawdbot looking for a fresh crypto wallet]

Agents are looking for ways to obtain compute and to accrue resources - in this case, cryptocurrency. We've recently seen Circle ($CRCL) take off as its network and USDC see increasing usage. It's odd how quiet X has been about CRCL given its very strong recent performance. I've held from pre-bottom and am now well in the green on it, fortunately. I continue to like it here. But the next mover is in the crypto space in my opinion, and DATs are my preferred exposure (since I'm an equity guy).