Arthur Hayes: The endgame of AI-first is inevitably liquidity release, and risk assets will benefit.

BlockBeats news, September 13: BitMEX co-founder Arthur Hayes stated that once AI computing power demand hits a gap, it will ultimately have to be backstopped by money printing. The so-called "AI safety first" now actually has only two paths: one is for the U.S. government to step in itself, take over the current roles of Anthropic, OpenAI, and SpaceX, continue to be the big buyer of computing power, and prop up data center and chip orders. The other is for these buyers to disappear, after which the debt tied to AI explodes, insurers bear it first, and if they cannot bear it, the Federal Reserve prints money to bail out the insurers.

Arthur Hayes's conclusion is: whichever path is chosen, it is the same, money printing will be required, and whether through the fiscal or monetary route, liquidity will be released, and risk assets will ultimately benefit.