BitMine Chairman Tom Lee said on CNBC that next week could be a key turning point for the stock market, with investors watching two issues at once: whether confidence in AI-related trades can recover and whether fresh signals from Federal Reserve officials change the policy outlook. Lee said AI stocks have stalled under pressure from concerns around data centers and political opposition in the United States. He added that a renewed sign of strong AI computing demand from NVIDIA CEO Jensen Huang at an upcoming appearance could help restore confidence and lift the sector out of its consolidation phase. At the same time, Lee said uncertainty around the Federal Reserve continues to build, making a series of upcoming public appearances by Fed officials another major signal for markets. He pointed to the S&P 500 hovering near 7,678, down about 1.4% for the week, as investors weigh doubts over the sustainability of AI capital spending alongside uncertainty about the path of monetary policy. In Lee’s view, next week will be a critical window for seeing which direction the market chooses, with short-term moves in risk assets likely to hinge on whether AI demand signals and Fed expectations begin to align.
BitMine Chairman Tom Lee said on CNBC that next week could be a turning point for the stock market.
Lee said trading in AI stocks has stalled, held back by concerns over data centers and political opposition in the United States. The central question now, he said, is whether confidence in the AI trade can return after this pause.
He added that if NVIDIA CEO Jensen Huang uses an upcoming appearance to show that demand for AI computing power remains strong, that could help restore market confidence and push the AI sector out of consolidation.
Lee also said uncertainty around the Federal Reserve is still building. A series of upcoming public appearances by Fed officials, he said, will serve as another major signal for markets.
The S&P 500 has recently been hovering near 7,678 and is down about 1.4% for the week. According to Lee, the market is now facing two overlapping doubts: whether AI capital spending is sustainable and where monetary policy is headed. He said next week will be a key window for watching how the market chooses its direction, with the short-term path for risk assets depending on whether AI demand signals and Fed policy expectations begin to move in the same direction.
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