But the bigger draw is simpler: AI is where the speculative money and investor attention is now headed. The capital that once chased crypto is now chasing computer, chip and model builders, and every leap in what these systems can do widens that appeal.
Each result like Fable’s finding of the Jacobian conjecture strengthens the case for pouring capital into AI and poses a difficult conundrum for crypto investors: Why hold a token that acts as a sidecar to the AI cycle when someone can own the vehicle itself?
AI’s capacity curve is steep, and the steeper it gets, the more of the market’s appetite for risk it pulls away from everything else, including crypto.
What the problem really was
Think of a machine that takes two numbers and returns two new numbers by just adding and multiplying. The question first asked in 1939 was whether the machine can always be run backwards: can the original two numbers be restored each time if only the answer is given?
Mathematicians had a quick way to check if a machine looked reversible. The Jacobian conjecture stated that if a machine passed this check, it should always be reversible.
For 87 years, no one could prove it was true, and no one could find a machine that broke the rule.
