Video | Perpetual Contract Inventor Arthur Hayes: AI Bubble Most Likely to Burst in 2028

On June 26, Arthur Hayes stated during The Bonnie Blockchain podcast that if he had to guess when the AI bubble would burst, he believed the most likely timeframe would be 2028. The reason being a simple calculation: most of this AI debt was incurred between 2024 and 2026, and the actual lifespan of a GPU is only two years, yet Wall Street is depreciating it over six years. Two and a half years from now, will the H100 and Blackwell chips purchased at a high price still be able to generate sufficient revenue? If by then Chinese models perform equally well, running on Huawei chips at one-tenth of the price, the entire economic rationale of Western data centers will evaporate on the spot.