Forget Nvidia: The next big AI trade could be crypto and blockchain

MarketsForget Nvidia: The next big AI trade could be crypto and blockchainFranklin Templeton’s Sandy Kaul and Circle CEO Jeremy Allaire argue that as autonomous AI agents start spending money on their own, blockchain networks will power the next big AI trade.By Helene Braun|Edited by Cheyenne Ligon Jul 22, 2026, 1:32 p.m. 3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowInvestors looking for the next AI trade should consider blockchain networks and crypto assets as autonomous AI agents begin transacting with one another, according to Franklin Templeton's Sandy Kaul.Kaul said agentic AI will require low-cost, programmable payment rails for machine-to-machine micropayments, making blockchains better suited than traditional financial networks.Her thesis aligns with Circle CEO Jeremy Allaire's view that AI agents and blockchain are converging into a single economic system where software can transact, coordinate and exchange value autonomously.Artificial intelligence has fueled one of the market's biggest investment themes. Franklin Templeton's head of digital assets and innovation, Sandy Kaul, says investors may already need to think beyond AI chipmakers and cloud companies for the next place to put their money.In a recent post, Kaul argued that the next wave of AI could benefit blockchain networks and crypto assets as autonomous AI agents begin transacting with one another. While institutional investors have poured money into semiconductor companies, hyperscale cloud providers and data centers, she said they're overlooking the infrastructure that could power machine-to-machine commerce.Her thesis centers on agentic AI. Unlike generative AI, which creates text, images or code in response to prompts, agentic AI is built to complete tasks with little human input. An AI agent could book travel, compare prices, buy computing power, retrieve data or manage software workflows on a user's behalf.T…

Forget Nvidia: The next big AI trade could be crypto and blockchain

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