Alphabet Backs x402 Protocol After 97M Transactions and Addresses TurboQuant Selloff
Alphabet has joined 20 participants including Microsoft, Amazon Web Services, and American Express to back x402, an open-source AI-driven payment protocol processing 97 million transactions under the Linux Foundation. Its TurboQuant data-compression technology sparked a semiconductor sector selloff despite analysts warning that improved efficiency will drive demand for larger AI models and boost memory and storage requirements.
1. Alphabet Backs x402 AI-Driven Payment Protocol
Alphabet has joined 20 participants including Microsoft, Amazon Web Services, and American Express to back x402, an open-source protocol under the Linux Foundation designed for AI-driven payments. The protocol aims to leverage stablecoins to settle transactions instantly and has processed 97 million transactions on Coinbase’s Base blockchain to date.
2. TurboQuant Efficiency Spurs Memory Demand Debate
Google’s TurboQuant data-compression technology generated a selloff in the semiconductor sector over concerns of reduced hardware demand. Analysts counter that the improvements enable larger and more complex AI models, which should increase requirements for memory and storage, benefiting chipmakers such as Micron and Western Digital.