Fundstrat’s Tom Lee Declares AI Stock Selloff Has Bottomed Amid Supply Tightness, Crypto Resilience

A market strategist is assessing the recent selloff in AI-related stocks as having reached its bottom for two main reasons. In a new interview with CNBC’s Squawk Box, Fundstrat co-founder Tom Lee says the demand for AI infrastructure remains high, suggesting the AI-related stocks will soon rebound after taking heavy losses last week. Says Lee, “I think we are at the bottom because, number one, the market for AI is still very tight. It’s not an overcapacity market, and the constraint we’re seeing is preventing more spending, or political opposition is preventing more spending. That is slowing the growth, but it’s not creating a top.” Lee also says that the crypto market response to the hack of Binance is signaling a bottom.

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