Arthur Hayes: OpenAI and Anthropic Have No Value—The Bigger the AI Bubble, the Higher Bitcoin Will Rise

Odaily reports: BitMEX co-founder Arthur Hayes said on the Convergence program on October 16 that OpenAI, Anthropic, and SpaceX are all unprofitable, and that AI model companies rely on debt financing, equity financing, and implicit support from the U.S. government.

The Nasdaq 100 index fell 2.5%, and chip stocks declined for an eighth consecutive day, marking the longest losing streak since 2008. On October 17, Bitcoin's price was close to $81,400. A Bank of America analyst said the $1 trillion AI investment boom may follow a typical boom-and-bust cycle.

Hayes believes that the bigger the AI bubble, the larger the subsequent bailout will be, and the higher Bitcoin's price will go. He also said Bitcoin can reflect wasted capital. He also criticized token issuance methods, saying that retail investors who bought at TGE and then suffered a 95% drop were the ones who got hurt. (Bitcoin.com News)