Fundstrat co-founder Tom Lee said he thinks the selloff in AI-related stocks has reached a bottom and expects them to rebound. He argued that demand for AI infrastructure remains high, while constraints and political opposition are slowing spending rather than creating excess capacity. This is his assessment, not a confirmed market bottom.
Lee also pointed to what he described as a $6.3 billion loss from a Binance hack that had barely lowered crypto prices. He maintained his forecast that the S&P 500 will end the year above 8,200 despite investor worries about AI spending, oil prices, midterm elections and the Iran war.
