Several participants noted that further tightening of monetary policy may be necessary if inflation remains high, reinforcing expectations that interest rates could stay restrictive for an extended period as the Federal Reserve faces a slower return of inflation to the 2% target.
AI infrastructure spending has reached a scale sufficient to influence liquidity conditions and capital allocation in global markets. It is projected that in 2026 tech giants will spend between $600 and $800 billion on AI infrastructure, with capital flowing heavily into data centers, semiconductor, networking hardware, and power systems. Over the past year, data center funding exceeded $61 billion, while large-scale AI infrastructure projects increasingly rely on private multi‑billion‑dollar financing sources. This contributes to rising demand for electricity, copper, specialized equipment, and highly skilled labor.
The inflationary effects of AI investment may materialize before productivity gains can offset them. Workers with AI skills currently earn roughly 56% higher wages, and in AI‑related sectors salaries grow about twice as fast as in non‑AI sectors. At the same time, several Fed members noted that firms are re‑evaluating their hiring plans as automation accelerates.
In the digital asset market, the implications extend beyond mere interest‑rate expectations. Persistent restrictive monetary conditions may still curb capital flows in speculative segments of global markets. Meanwhile, growing AI‑related investments increase demand for stablecoin settlements, real‑time securities flows, and uninterrupted digital payment infrastructure that supports global capital movements.
Ignacio Aguirre, CMO Bitget
