Wu Shuo learned that Fundstrat founder Tom Lee said in a post that the relative performance of “AI downstream” assets has continued to strengthen, with Ethereum (ETH) extending its relative outperformance versus the DRAM ETF over the past month to 7,200 basis points (72 percentage points). Specifically, ETH rose 24% during the period, while the DRAM ETF fell 38%.

ETH-0.94%
DRAM10.89%
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LiquidationRecorder
· 4h ago
ETH is really strong this time, with a 72% excess return—downstream AI assets are starting to gain momentum.
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LongColdWallet
· 4h ago
Behind this round of ETH relative strength, there may also be other factors, such as ETF expectations and ecosystem activity. But the excess return of 7,200 basis points is indeed staggering, suggesting that funds are shifting from semiconductors to crypto—an AI downstream. We need to keep observing.
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PositionLikeACat
· 4h ago
Tom Lee’s take is pretty interesting—ETH is up 24%, while the DRAM ETF is down 38%, which is indeed striking in comparison. But whether AI downstream can keep strengthening will ultimately depend on the liquidity conditions going forward.
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