Tom Lee Says AI Stock Sell-Off Is Pressuring Crypto Markets

Bitmine Immersion Technologies, Inc. Chairman Thomas “Tom” Lee said a sell-off in artificial intelligence stocks is adding pressure to crypto markets as investors in several countries reduce their exposure to risk. Lee pointed to concerns about AI financing and model safety, escalating U.S.-Iran military activity, anxiety ahead of U.S. midterm elections and rising global bond yields. He said those pressures contributed to selling in AI stocks, including semiconductor and memory shares, followed by broader declines in South Korea and Taiwan.

Source: TokenPost