BlockBeats News, May 24th - Tom Lee, Chairman of the largest Ethereum treasury BitMine, stated in an interview with CNBC that the overall fundamentals of the U.S. stock market remain strong. It has shown resilience in the face of rising oil prices and increasing yields. Tom Lee believes that the U.S. economy has unique advantages, including leadership in AI technology, relative energy independence, and strong consumer resilience. He said, "Compared to the beginning of the year, there is still greater upside potential for U.S. stocks by the end of the year. We still have some issues to digest later this year, but the fundamentals are currently healthy and supported by earnings."

He pointed out that IPOs of large AI companies such as OpenAI and SpaceX will create a wealth effect of trillions of dollars and stimulate consumption and the market later this year. However, he also warned that with more large IPOs and lock-up expirations throughout the year, the U.S. stock market may face additional stock supply pressure. Additionally, Tom Lee stated that the AI and semiconductor sectors have not yet formed a bubble, and the market is truly chasing after "scarce assets." He believes that demand for AI-related products remains strong while there is still a shortage on the supply side.

Regarding his previous prediction of a stock market correction, Tom Lee clarified, "We have already experienced a bear market in the MAG-7 and software sectors, and later this year, other stocks will experience a bear market, but the MAG-7 and software sectors will be exempt from this bear market. Later this year, the market will face several events: the uncertainty brought by the mid-term election season, a moment of reckoning caused by a shortage in oil product inventories, and the supply pressure from the later lock-up expirations of SpaceX, OpenAI, and other IPOs.