Arthur Hayes says looming SpaceX, Anthropic, and OpenAI listings plus higher crude prices could trigger an AI sector correction.
Former BitMEX CEO Arthur Hayes has flagged potential downside for the AI sector, citing three upcoming high-profile IPOs—SpaceX, Anthropic, and OpenAI—as a catalyst for a market pullback. Rising oil prices are also seen adding pressure to the AI complex, which has been a key driver of tech stock gains this year.
Hayes did not specify a timeline but suggested the correction could precede a Bitcoin rally, as liquidity shifts following the bubble burst. The AI sector has surged in 2024, with Nvidia and other chipmakers leading gains amid strong demand for generative AI tools.
No immediate market reaction was reported, though traders may reassess exposure to AI-linked equities and cryptocurrencies in light of the warning.