BitMEX co-founder Arthur Hayes said the U.S. government may ultimately backstop AI infrastructure credit risk under an “AI safety first” framework. Hayes outlined two potential paths: the government directly assuming the buyer role for institutions such as Anthropic, OpenAI and SpaceX in the computing power market, or the Federal Reserve printing money to bail out insurers holding AI-related debt after defaults triggered by falling computing demand and a lack of buyers. He said both scenarios effectively rely on money printing to support AI infrastructure and related credit expansion.