Wintermute plans to invest as much as $1 billion over the next five years in artificial intelligence data-center infrastructure and high-frequency trading as it expands further into traditional markets. CEO Evgeny Gaevoy said the firm will fund the push from retained earnings, with a goal of lifting non-crypto business from about 10% of revenue to more than 50% by the end of 2027. The expansion targets stocks, commodities and foreign exchange as Wintermute responds to slower crypto activity. Average daily trading volume is about $10 billion this year, down from about $15 billion last year. The company said its investment program will support computing power, storage, networking and data-center infrastructure for quantitative strategies that rely on large datasets and continuous model training and retraining. Wintermute has already expanded into exchange-traded funds, perpetual futures tied to real-world assets and prediction markets. Its U.S. affiliate recently completed broker-dealer registration, allowing it to trade stocks and stock options for its own account and act as an authorized participant for exchange-traded products, giving the firm a path into regulated securities markets.