Galaxy (GLXY) CEO Mike Novogratz pointed to the free-spending crowd at a New York Knicks game as a sign of the wealth generated by the artificial intelligence (AI) boom, and said crypto interest has faded.

Novogratz pointed to soaring New York Knicks Finals ticket prices, a popular basketball team competing in this year’s NBA Finals, which he said ranged from about $75,000 for seats near the court to several thousand dollars for upper-level seats, during the All Things Market podcast with Anthony Scarmucci.

The pricing, he argued, reflects a growing pool of consumers with “a lot of disposable income” tied to gains from AI-related companies and investments.

“This AI revolution is real,” Novogratz said, adding that firms like Anthropic…