Short-term investors are actively channeling capital into the AI sector

Short-term investors are actively channeling capital into the AI sector

user avatar

by Eve Adams

2 years ago


The Chief Economist of BIT Mining, Yuwei Yang, noted that short-term investors in the cryptocurrency market are currently focused on assets related to artificial intelligence.

At the moment, market liquidity is limited and primarily directed towards the AI segment. This could exert additional pressure on cryptocurrencies. I expect that many digital currencies will trade in a state of consolidation in the near future, said the expert.

Senior analyst at Bitwise, Juan Leon, also shared his opinion. He believes that artificial intelligence and cryptocurrencies are closely intertwined, creating a megatrend that could attract around $20 trillion in the next decade. Experts from PricewaterhouseCoopers (PwC) agree with this forecast.

Specialists predict that by 2030, artificial intelligence and cryptocurrencies together will attract about $17.5 trillion in investments. According to their estimates, AI will dominate this process, receiving at least $15.7 trillion from investors. The race for supremacy in the AI segment is causing an unprecedented shortage of data centers, chips, and electricity.

For example, such resources are widely used in the cryptocurrency mining industry. Mining leading crypto assets requires substantial energy resources and high-performance computing chips. This month, CoreWeave, a company specializing in artificial intelligence, offered to buy the mining corporation CoreScientific.

The offer amounted to $1.6 billion, which is about 55% higher than the market value of the company. However, the management of CoreScientific rejected this proposal. It is also worth noting that high-frequency traders in the DeFi market have begun to actively use AI elements to improve their efficiency.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

US Tech Stocks Experience Significant Gains Driven by AI Boom

chest

The US tech stock market has seen substantial gains over the last year, driven by advancements in AI technology.

user avatarAyman Ben Youssef

Traders Predict Early Release of OpenAI's GPT-6 Model

chest

Prediction market traders are optimistic about the early release of OpenAI's GPT-6 model, estimating a 59% chance of launch by September 15.

user avatarTando Nkube

Visa Seeks New Crypto Stablecoin Partner for Global Settlements

chest

Visa is seeking a new crypto stablecoin partner to enhance its global settlement capabilities after the acquisition of its previous partner, BVNK, by Mastercard.

user avatarKofi Adjeman

AMD's Gaming Division Struggles Amid AI Market Concerns

chest

AMD's gaming division faces challenges with a 31% revenue dip, raising concerns about its ability to protect stock value amid potential AI market fluctuations.

user avatarSatoshi Nakamura

Michael Burry Warns of Potential AI Bubble Burst

chest

Michael Burry warns of a potential AI bubble burst that could lead to significant losses in tech stocks, particularly for companies like AMD.

user avatarNguyen Van Long

Nike Stock Hits 12-Year Low Amid Rebound Speculation

chest

Nike's stock closed at a 12-year low of $39.09, raising concerns about its future performance and potential for a rebound.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.