Fundstrat’s Tom Lee said the latest tech selloff is close to bottoming and that he would buy into the weakness, including crypto. Speaking to CNBC, Lee argued that concerns over AI funding are stopping the sector from turning into a bubble, with tight debt markets limiting speculative excess. He said AI continues to produce real advances, citing OpenAI’s recent work on 770 math problems. Fundstrat estimates AI could need $30 trillion of investment over 25 years, similar to the cost of building mobile networks or roads. Lee noted that US households earn about $7 trillion a year in interest income alone. He also pointed to a potentially softer Federal Reserve stance and Treasury yields falling back below 5%. His preferred picks are memory makers, Nvidia, the Magnificent Seven, software, crypto, financials and cyclical stocks.
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