Tom Lee, Chairman of BitMine, expressed optimism about the U.S. stock market's potential for gains before year-end, citing strong fundamentals despite rising oil prices and higher yields. Speaking to CNBC, Lee highlighted the U.S. economy's advantages, including leadership in AI technology and energy independence. He anticipates that IPOs from major AI firms like OpenAI and SpaceX will create a wealth effect, boosting consumption and markets. Lee also noted that while the AI and semiconductor sectors are not in a bubble, the market is pursuing scarce assets, with strong demand and limited supply. He warned of potential supply pressure from upcoming IPOs and lock-up expirations, which could impact the market. Despite previous predictions of a market correction, Lee believes the MAG-7 and software sectors have already experienced downturns and will avoid further declines this year.