AI bubble bursts? Experts say the stock market correction is a “speed crash” that signals long-term buying opportunities, predicting that AI agents will trigger a 24x token demand surge

AI Bubble Burst? Macro analyst Jordi Visser pointed out that the AI and semiconductor stock correction from May to June 2026 is merely a “speed crash within a structural bull market,” intended to flush out retail investors and liquidate quantitative leverage. He says long-term buying opportunities have already emerged. He also emphasized that as consumer AI agents become widespread, Token demand and memory shortages will see an explosive, exponential surge. In addition, the United States is reclassifying cryptocurrencies as a national financial tool, ushering in a golden age for programmable finance.

(Backgrounder: AI experiment—give Gemini $20,000 to open a physical coffee shop, resulting in a tragedy humans don’t want to face.) (Background add-on: Spotify lets you “open your mouth and request a song”—conversational AI assistant goes live, and the streaming war moves into the chat box.)

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• Reject the bubble narrative! Structural bull market after deleveraging
• Memory shortages seen through 2030; AI agents ignite Token consumption
• Digital dollar policy takes shape; cryptocurrencies become national tools

From May to June 2026, global AI and semiconductor sector stocks went through a sharp market correction. Many investors began to worry whether this means an AI bubble has burst. However, macro analyst and founder of AI Macro Nexus Jordi Visser offered a completely different optimistic interpretation in his latest podcast episode. He believes the recent sell-off is a “textbook speed crash,” mainly to wipe out overcrowded retail positions and quantitative leverage—not the start of a cyclical bear market.

Visser stressed that the long-term fundamentals driving the AI industry remain intact. The current market pullback, in his view, creates an excellent entry opportunity for investors. In his analytical framework, 2026 is still the “first inning” of AI Token demand. In the future, as consumer application-layer breakthroughs occur, real-world hardware supply will be unable to keep up with the exponential rise in compute consumption. At the same time, he turned his attention to the macroeconomy and the regulatory front, previewing that the U.S. is incorporating cryptocurrencies into the core of national strategy through a brand-new digital dollar policy.

Reject the bubble narrative! Structural bull market after deleveraging

Visser presented multiple data points to show this is a typical speed crash. He noted that Morgan Stanley’s technology momentum factor 60-day volatility briefly surged to 87, while Samsung’s stock price plunged 21% within 10 days, marking the biggest drop since COVID-19. In addition, as much as 87% of S&P semiconductor constituents were in oversold territory on the 14-day relative strength index (RSI). Retail-leveraged ETFs also gave back this year’s gains of as much as 52% to 62%.

Even so, the signals of a structural bull market remain strong. Among the 100 AI portfolios Visser tracks, 86% still stay above the 200-day moving average. NVIDIA, the AI chip leader, has also returned to the 20-day moving average and issued a buy signal on the MACD. He believes demand for AI infrastructure comes from Token generation and AI agents—an “exponential” growth pattern that is fundamentally different from the past linear hardware demand driven purely by humans (such as the prior hardware bubbles or hydraulic fracturing technology).

Memory shortages seen through 2030; AI agents ignite Token consumption

On the hardware supply front, Visser highlighted how extremely tight the memory market is. He expects Samsung’s operating profit in 2026 to reach a staggering $217 billion—surpassing the total for the previous 40 years—yet its price-to-earnings ratio is only 11x. Meanwhile, SK Hynix’s capital increase saw subscriptions 7x over. Micron signed an even larger $100 billion long-term contract. Samsung executives even said outright that the memory shortage will “continue beyond 2030.” Elon Musk, CEO of Tesla, is also actively building factories to address the memory crunch caused by a boom in humanoid robots before 2030.

The ultimate engine pushing this hardware demand wave will be the soon-to-explode “Consumer AI agents.” Visser analyzed that the bottleneck for AI adoption today lies not in the model itself, but in the design of user interface (UI) products. Once AI agents can naturally disappear into everyday life like maps or search engines, Token consumption will experience an astonishing 24x growth. He gave an example: a 90-person AI-native company saw its Token spend jump from $100k per year to $11 million in just half a year—showing that the real adoption curve for enterprises using AI models in a hybrid way is right on the verge of breaking out.

Digital dollar policy takes shape; cryptocurrencies become national tools

Beyond hardware and AI applications, Visser’s research platform also lists programmable finance as another major pillar. He is especially focused on a speech by U.S. Treasury Secretary Scott Bessent in July 2026, which he regards as the “Bessent doctrine” for America’s new economic model. The policy explicitly supports stablecoins and asset tokenization, symbolizing that the U.S. is repositioning cryptocurrencies as a powerful statecraft financial instrument.

Visser pointed out that with the passage of the U.S. CLARITY Act and the push for the GENIUS Act, the regulatory environment is entering a historic turning point. Against this macro backdrop, even though Bitcoin (BTC) has temporarily fallen below the 200-day moving average technically, the price has shown strong resilience and even risen against the trend in response to bad news such as sales of BTC by Michael Saylor, founder of Strategy. In addition, he believes the Fed is very likely to choose to raise rates in July to build anti-inflation credibility, but expects that there won’t be a large tightening cycle afterward—something that would effectively be a long-term positive for the crypto market.

Overall, Visser believes today’s financial markets are entering an unprecedented convergence of sectors: an AI-driven exponential demand surge, strict constraints on real-world hardware supply, and national-level adoption of programmable money. These three forces are rapidly blending together. For investors, this speed crash led by AI and semiconductors is not only a long-term opportunity to reposition tech stocks—it also signals that traditional capital markets can no longer remain indifferent about holding “no view” toward cryptocurrencies.