Oblong Raises $7.5M for Strategic Entry into AI with Bittensor ($TAO)
Oblong, Inc., a technology services firm known for its innovative IT solutions, has announced a $7.5 million private placement, securing funding to execute a major strategic shift into the AI-driven digital asset ecosystem.
The financing involves the sale of 1,989,392 shares of common stock at $3.77 per share, priced at-the-market under Nasdaq rules. The offering is led by institutional investors focused on emerging technologies, subject to customary conditions.
Embracing Bittensor and the Future of Permissionless Intelligence
Proceeds from the offering will be deployed into the accumulation of $TAO, the native token of Bittensor, a decentralized, open intelligence protocol that plays a foundational role in democratizing access to information, much like the internet.
Peter Holst, CEO of Oblong, said, “Bittensor is an open network for intelligence, the same way the original internet was for information.”
He added, “By building on this open platform, problems can be solved collaboratively at global scale, with the world’s brightest minds incentivized by $TAO. With over 25 years of experience scaling technology businesses, we believe we are uniquely positioned to capitalize on this next major inflection point in AI and digital infrastructure.”
Oblong intends to become a key player in this ecosystem by acquiring $TAO, contributing to Subnet 0, and developing software tools that facilitate infrastructure and usage across the Bittensor network.
Also read: US Signal Commits $200 Million to Expand AI-Ready Data Infrastructure Across the US
A Strong Financial Base and Tokenomics-Driven Confidence
As of March 31, 2025, the Company held $4.3 million in cash and no debt. This solid financial foundation will support strategic investments in building out Bittensor-compatible software and achieving yield-generating participation in the network.
Oblong has signaled long-term confidence in $TAO, citing its scarcity model (21 million cap, Bitcoin-style halving), no insider allocations, and transparent issuance structure, attributes rare in the altcoin space and critical to its store-of-value thesis.
Positioning for the Third Era of Crypto
Oblong views the convergence of AI and digital assets as the third great wave of crypto innovation, following Bitcoin’s rise and the emergence of smart contract platforms like Ethereum and Solana. In this context, Bittensor and $TAO are seen as category-defining assets for the AI x crypto era.
