🤖 The next big AI trade might not be Nvidia

While markets pile into chipmakers, Franklin Templeton and Circle are pointing elsewhere: blockchain as the infrastructure layer for the agentic AI era.

Agentic AI doesn't answer prompts — it autonomously pays for API calls, buys compute, books services. Many transactions are fractions of a cent, which breaks traditional rails where fees exceed the transaction itself. Blockchain fixes this with programmable settlement and no intermediary.

Franklin Templeton's Sandy Kaul says investors are missing the infrastructure that will run machine-to-machine commerce. Circle CEO Allaire goes further — agentic AI and blockchain are one shift, not two. Agents become economic actors; subscriptions die; pay-per-task wins.

An AI trade with zero Nvidia in it, via Business Insider.

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