Bitcoin dips slightly to $65,522 ahead of the Federal Reserve decision

San Francisco Federal Reserve President Mary Daly stated that the chip demand driven by the AI boom may spread from high-end AI chips to a broader semiconductor market. Some companies have already begun securing supplies of memory chips in advance and even redesigning products to reduce chip usage. She believes that the inflationary pressure brought on by AI may not be a one-off shock and that easing this pressure could take longer than the one-to-three-year period typically assumed by the Federal Reserve. Daly expressed her full support for the Fed’s rate hike in September, adding that whether further action is needed will depend on whether shocks such as AI developments, tariffs, and higher energy prices due to Middle East conflicts subside. If these factors persist or overlap for an extended period, further tightening may be required; however, if these shocks are only temporary, additional rate hikes may not be necessary.

According to The Wall Street Journal, sources reveal that cloud computing company Lambda, backed by Nvidia (NVDA.US), is raising up to $4 billion at a pre-money valuation of $14.5 billion.