Michael Novogratz, the billionaire founder and CEO of crypto financial services and artificial intelligence data center operator Galaxy Digital Inc., said that anxiety about AI spending in the global credit market may be close to easing. After Galaxy announced its results for the third fiscal quarter, Novogratz said in a conference call on Tuesday, “The credit market is currently somewhat 'indigestive'. Market tension may be nearing its peak. There's no easy way out of this situation, but I think time will gradually improve the situation.” Novogratz believes that Meta Platforms Inc.'s equity financing and Anthropic PBC's initial public offering are signs that the pressure may ease. “It can be understood this way: more equity financing, less credit financing. To some extent, this past week has been good for the credit market because we have seen equity financing on such a large scale.” Novogratz believes that the possible end of the war in Iran is also another reason for believing that the credit market is stabilizing, as this may push oil prices down, thereby reducing the pressure on the Federal Reserve to raise interest rates to contain inflation.

Michael Novogratz, the billionaire founder and CEO of crypto financial services and artificial intelligence data center operator Galaxy Digital Inc., said that anxiety about AI spending in the global credit market may be close to easing. After Galaxy announced its results for the third fiscal quarter, Novogratz said in a conference call on Tuesday, “The credit market is currently somewhat 'indigestive'. Market tension may be nearing its peak. There's no easy way out of this situation, but I think time will gradually improve the situation.” Novogratz believes that Meta Platforms Inc.'s equity financing and Anthropic PBC's initial public offering are signs that the pressure may ease. “It can be understood this way: more equity financing, less credit financing. To some extent, this past week has been good for the credit market because we have seen equity financing on such a large scale.” Novogratz believes that the possible end of the war in Iran is also another reason for believing that the credit market is stabilizing, as this may push oil prices down, thereby reducing the pressure on the Federal Reserve to raise interest rates to contain inflation.