Arthur Hayes Claims AI Companies Lack Value, Suggests Bitcoin Rises With AI Bubble

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Bitcoin news emerged as Arthur Hayes, co-founder of BitMEX, claimed that AI firms such as OpenAI and Anthropic lack profitability and rely on debt and government support. He connected the growing AI bubble to rising Bitcoin prices, as shifts in the Fear & Greed Index signals indicate changing market sentiment. On October 17, Bitcoin approached $81,400 while the Nasdaq 100 dropped 2.5%. Hayes also criticized token issuances, noting that retail investors often lose 95% of their investment after a TGE.

Odaily Planet Daily reports that on October 16, during the Convergence program, BitMEX co-founder Arthur Hayes stated that OpenAI, Anthropic, and SpaceX are not yet profitable, and AI model companies rely on debt financing, equity financing, and implicit support from the U.S. government.

The Nasdaq 100 index fell 2.5%, with chip stocks recording their eighth consecutive day of declines—the longest such streak since 2008. On October 17, Bitcoin's price approached $81,400, with Bank of America analysts suggesting that the $1 trillion AI investment boom may follow a typical boom-and-bust cycle.

Hayes believes that the larger the AI bubble, the greater the subsequent bailout, and the higher the price of Bitcoin, stating that Bitcoin reflects wasted capital. He also criticized token issuance methods, noting that retail investors who buy in at TGE and subsequently see a 95% price drop are the ones suffering losses. (Bitcoin.com News)

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