TRNR to Build Largest Public AI-Token Treasury With Up to $500M in $FET

Interactive Strength Inc. (Nasdaq: TRNR), the fitness technology company behind CLMBR and FORME, is making a major crypto pivot. The company announced it will raise up to $500 million to acquire $FET tokens, the native digital asset of Fetch.ai, a leading AI infrastructure platform.

TRNR has already secured $55 million in initial funding from ATW Partners and DWF Labs, with the proceeds now being used to begin $FET purchases. This marks the start of what TRNR says will become the largest AI-token-focused crypto treasury among publicly listed U.S. companies.

A Strategic AI-Crypto Bet

CEO Trent Ward described the move as a long-term value play at the intersection of the AI and digital asset revolutions. “Digital assets are becoming part of global financial infrastructure,” he said. “Fetch.ai is the market leader at the intersection of AI and crypto.”

TRNR believes this investment strategy will expand its technological capabilities while enhancing its financial flexibility. The company also expects the crypto treasury to complement its two pending acquisitions – Sportstech and Wattbike, as part of its broader push into digital and AI-powered fitness.

Partnership With Fetch.ai

In addition to acquiring $FET tokens, TRNR is forming a technology partnership with Fetch.ai. The collaboration will focus on using Fetch.ai’s AI agent framework to develop personalized training programs and expand TRNR’s digital fitness services.

Fetch.ai builds decentralized, autonomous AI agents that interact in real-time to optimize tasks like scheduling, research, forecasting, and now, potentially fitness. Its network powers a wide range of use cases across sectors including healthcare, logistics, and finance.

The $FET token, a top-50 cryptocurrency by market cap, plays a central role in powering Fetch.ai’s infrastructure and reward mechanisms. It is also one of the top five AI-related tokens in the market.

Institutional Support and Custody

Backing from DWF Labs, a prominent crypto investment and market-making firm, was seen as a strong vote of confidence. Managing Partner Andrei Grachev called the deal a “landmark” moment for corporate crypto adoption.

To manage its token purchases and security, TRNR will use BitGo for both custody and trading. BitGo provides institutional-grade infrastructure for digital asset management.