Veytics Intelligence
2026-10-07 · CNBC

Trillions are being ‘wasted’ on the AI boom, Arthur Hayes says. He’s betting on what comes next

Former BitMEX CEO Arthur Hayes is betting that the artificial intelligence boom will eventually produce a familiar outcome: too much investment, a crash and, ultimately, a bailout that sends crypto higher. Hayes, co-founder and chief investment officer of crypto investment firm Maelstrom, said in response to questions from CNBC at the Gamma Prime Investing Conference in Singapore that humanity is "wasting multi-trillion dollars" on building AI data centers. The massive data center buildout would ultimately make computing power "extremely cheap and extremely plentiful," Hayes said.

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