WORLDTECHArthur Hayes Says AI Spending Wastes Cash and Lifts Bitcoin
Bitmex co-founder Arthur Hayes says the artificial intelligence boom consumes money backed by a government safety net, and that bitcoin rises as that boom grows. He set out these views on the Convergence podcast with Luke Martin, according to Bitcoin.com News.
Hayes's four talking points
Hayes presented his convictions on the Convergence podcast with Luke Martin, as reported by Bitcoin.com News. The first of his four key talking points is that money is being wasted.
Hayes ties the spending to a government backstop, which he presents as the reason the artificial intelligence sector stays funded despite the cash it uses up. In his view, the growth of that spending and the price of bitcoin move together.
Companies named in the discussion
Hayes names OpenAI and Anthropic. OpenAI is an artificial intelligence company based in San Francisco, founded in 2015. Anthropic is an artificial intelligence company based in San Francisco, founded in 2021.
The account rests on a single outlet, and the description of Hayes's remarks comes from that outlet's coverage of the podcast.
Open questions
- Which specific figures or evidence Hayes cites for the claimed waste has not been confirmed?
- Has OpenAI or Anthropic responded to Hayes's remarks?