Tom Lee Calls Bottom on AI Stock Selloff, Citing Tight Supply and Crypto Resilience
Summary
Tom Lee said the AI-related stock selloff has likely bottomed, arguing that demand for AI infrastructure still exceeds available supply and that recent crypto market resilience suggests many investors have already sold. Intel illustrates the tension: data center and AI revenue rose 78% year over year to $7.3 billion, but manufacturing limits and a weak forecast helped drive its shares down nearly 30%. Crypto fell after the Binance breach, with Bitcoin down about 4%, more than $1.3 billion in leveraged positions liquidated and U.S. spot Bitcoin ETFs recording $643.2 million in outflows. Binance said it had frozen about $3 billion in affected assets and would cover losses. Lee cautioned that market bottoms are hard to identify.
