BitMEX co-founder Arthur Hayes said a break in demand for AI compute would ultimately force policymakers back to money printing. In his view, the current idea of putting 「AI safety first」leaves only two real paths. One is for the U.S. government to step in and take over the role now played by buyers such as Anthropic, OpenAI, and SpaceX, continuing to support demand for data centers and chip orders. The other is for those buyers to disappear, causing debt tied to the AI buildout to blow up, with insurers taking the first hit and the Federal Reserve printing money to rescue them if losses become too large. Hayes said the conclusion is the same either way. Whether the response comes through a fiscal route or a monetary one, liquidity would be released, and risk assets would benefit in the end. The comments were reported by BlockBeats on Sept. 13.
BitMEX co-founder Arthur Hayes said a drop-off in demand for AI computing power would, in the end, be backstopped by money printing.
According to BlockBeats on Sept. 13, Hayes argued that the current idea of putting 「AI safety first」leaves only two paths. In one scenario, the U.S. government steps in and takes over the role now played by Anthropic, OpenAI, and SpaceX, continuing to act as a major buyer of compute and keeping data center and chip orders supported.
In the other scenario, those buyers disappear, debt tied to AI collapses, and insurance companies absorb the initial shock. If they cannot carry the losses, the Federal Reserve would print money to rescue the insurers.
Hayes said both paths lead to the same outcome: money printing. Whether it comes through a fiscal channel or a monetary one, liquidity would be released and risk assets would ultimately benefit.
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