Tom Lee says blockchain and AI could turn JPMorgan and Goldman Sachs into next Mag 7

Fundstrat's Tom Lee stated in a CNBC interview that major financial institutions stand to be significant beneficiaries of adopting both artificial intelligence (AI) and blockchain technology. He argues that these technologies will allow banks to reduce the employee intensity of their operations, leading to margin expansion. Lee specifically suggested that tech-forward banks such as JPMorgan and Goldman Sachs could evolve into the next 'Magnificent Seven'-style leaders, trading more like tech stocks in the future. Beyond the financial sector, Lee also expressed optimism for a more dovish Federal Reserve, expecting it to boost business confidence and potentially push the ISM manufacturing index above 50, which historically correlates with strong growth cycles for Bitcoin and Ethereum.

(Source：Crypto Briefing)