AI Gold Rush: Crypto Miners Rocket on OpenAI-CoreWeave Deal as Galaxy Makes Nasdaq Splash
Bitcoin miners are mooning after OpenAI inked a monster cloud deal with CoreWeave—because nothing says ’decentralization’ like begging for scraps from AI’s table. Meanwhile, Galaxy Digital’s Nasdaq debut proves even crypto’s smartest gamblers still crave Wall Street’s validation.
Subheader: The Hyperscale Hangover
When AI’s favorite GPU landlord gets a $1B+ payday from Sam Altman’s crew, crypto miners pivot faster than a degenerate trader chasing the next shitcoin. Suddenly, those energy-guzzling ASICs look downright quaint next to Nvidia’s AI gravy train.
Subheader: Wall Street’s Crypto Rehab
Galaxy’s Nasdaq listing is the ultimate mixed signal—Mike Novogratz building bridges between crypto’s anarchist roots and the very institutions blockchain was meant to disrupt. Somewhere, Satoshi is facepalming while hedge funds rack up another round of ’disruptive innovation’ management fees.
Inflation expectations through the roof
On the macro front, the University of Michigan’s latest inflation survey showed consumers expect 1-year inflation to rise to 7.3%, up from 6.5%, the highest since the 1980s, while expectations for 5-10 years ticked up to 4.6%, a multi-decade high.
"It’s so high it doesn’t make sense," Louis Navellier, chief investment officer of money management firm Navellier said in a market note.
Responses showed staggering divergence in outlooks by political affiliations, with the Republican outlook for far tamer inflation. Traditional markets, consequently, shrugged off the data, with major U.S. stock indices climbing higher towards the latter hours of the session.
However, rising inflation expectations may have a second-order impact on markets by discouraging Fed policymakers from cutting rates in the next months.
"The concern here is that the Fed has expressed interest in consumer expectations on inflation, and with their concern about the potential of tariff-fueled inflation, it may give them further reason to pause," Navellier said.
