Tom Lee says ETH beat DRAM by 72 percentage points over the past month

Bitmine Chairman and Fundstrat co-founder Tom Lee said relative performance in what he calls "AI downstream" assets continues to strengthen, with Ethereum standing out against the DRAM segment. According to data cited by Lee, ETH’s performance advantage over DRAM widened to 7,200 basis points, or 72 percentage points, over the past month. During the same period, ETH rose about 24%, while a DRAM-related ETF fell about 38%. Lee said the shift reflects how AI infrastructure spending is moving beyond chips and compute supply chains toward the application layer and digital infrastructure. In that context, some downstream AI-linked assets are being repriced by the market. A long-time Ethereum bull, Lee has repeatedly argued that the network could become a core piece of digital economic infrastructure in the AI era as stablecoins, tokenized assets, and on-chain financial applications expand. The latest comparison, he said, points to a widening performance gap between crypto assets and the traditional AI hardware supply chain.