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Crypto

U.S. debt nears $40 trillion; Bitwise CIO says buy AI stocks and bitcoin

With U.S. government debt nearing $40 trillion, Bitwise Chief Investment Officer Matt Hougan proposed holding both artificial intelligence-related stocks and bitcoin. He argued the U.S. may address its debt burden through stronger growth driven by productivity gains from AI adoption, or through higher inflation that reduces the real value of debt if growth fails to accelerate. He said AI shares could benefit in a growth scenario, while bitcoin could act as a hedge under inflation.

AI & Enterprise

UBS reaffirms bullish view on Micron on HBM4 and AI demand

UBS has reaffirmed its buy rating on Micron Technology and kept its $1,625 price target, about 67 percent above the stock’s early trading price on Aug. 18. UBS argues that rising AI data centre demand, especially for HBM and high-performance server memory, could soften the memory industry’s boom-bust supply cycle. It also points to expanded long-term supply contracts and strong recent results and guidance, while warning the cycle could return if investment overshoots demand.

Crypto

Asia chip stocks plunge hits Wall Street, bitcoin breaks below $63,000

Bitcoin fell below $63,000 as U.S. markets opened, hitting its lowest level in 10 days. Cointelegraph reported that a sharp drop in Asian semiconductor stocks spread to U.S. technology shares, weighing on the cryptocurrency market. The Nasdaq Composite Index fell more than 1 percent, while Micron Technology slid in early trade. South Korea’s KOSPI and SK Hynix tumbled, and Japan’s Kioxia Holdings also dropped. Crypto derivatives markets also weakened.