Fundstrat co-founder and Bitmine chairman Tom Lee told CNBC he thinks the AI stock selloff has reached its bottom, but acknowledged that prices could fall further. He argued that AI demand still exceeds supply and said crypto’s response to a Binance security breach suggests much of the selling may already have passed.
Strong demand has not removed earnings concerns: Intel shares fell nearly 30% after a disappointing fourth-quarter forecast, even as its data center and AI revenue rose 78% from a year earlier to $7.3 billion. Bitcoin fell about 4%, and U.S. spot Bitcoin funds recorded $643.2 million in outflows, showing investors were still pulling money out. Binance initially estimated the breach affected about $6.3 billion in assets; it said about $3 billion had been frozen and pledged to cover losses.
