Tom Lee vs Jordi Visser on the AI Trade: Both End Up at Ethereum

Fundstrat's Tom Lee says the artificial intelligence (AI) trade is not finished. He argues the next leg runs through crypto payment rails built for software agents rather than people.

Veteran macro investor Jordi Visser argued the opposite this week. Lee also chairs the largest corporate holder of ether, which gives his version of the thesis a direct financial stake.

Why Lee Says Chips Were Only the First Leg

Lee, co-founder and head of research at Fundstrat, made the case on a panel hosted by the firm. He covered mobile phones as an analyst in the early 1990s.

Motorola and the infrastructure suppliers led that cycle early. The larger winners arrived later, namely the tower companies spun out of the carriers, and Apple.

Lee expects the same shape now, with financial services as the downstream market. He has already called AI capital spending fears a bullish market tell.

The Four Reasons Banks Cannot Bank Agents

Lee listed trust, proof of funds, lending, and tax collection as the reasons people built commerce around banks. Agents need none of those, he argued.

… Continue reading the full article at the original source below.