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AI & Enterprise

New York Fed says AI equipment shortage could last more than two years

A U.S. Federal Reserve official said shortages of artificial intelligence equipment could persist for more than two years. New York Fed President John Williams said in a Bloomberg interview that it could take over two years for AI equipment supply to catch up with demand, adding that AI infrastructure buildouts are pushing up chip prices and prices of goods that use them. Williams also reaffirmed his view that the Fed may need one more rate hike this year.

Crypto

Bitcoin up 43 percent in third quarter; U.S. Treasury yields are key variable

Bitcoin posted its strongest third-quarter gain since 2017, rising 43 percent, but U.S. Treasury yields above 5 percent have emerged as a key variable for extending the rally. Delphi Digital said high rates and surging yields are weighing on risk assets. Some market participants say bitcoin is benefiting from demand linked to concerns about currency debasement. Recent weak U.S. jobs data lowered expectations of an October rate hike.