'Big Short' investor Michael Burry says Anthropic's IPO filing shows the AI industry is 'catastrophically vulnerable'

What happened: Michael Burry said Anthropic's IPO filing did not change his bearish view on the AI boom, citing slowing revenue growth and pressure on pricing and usage in a Substack chat about the prospectus. Key numbers: Anthropic said third-quarter revenue was 86 times the $197 million it generated in Q4 2024, or about $16.9 billion. Why it matters: Burry said large language models are improving and being used more efficiently, which he expects to continue to the detriment of growth rates. He also cited debt financing fragility and commoditized tokens. Coverage: 15+ outlets in 24h

Michael Burry said Anthropic's IPO filing did not change his bearish view on the AI boom, citing slowing revenue growth and pressure on pricing and usage in a Substack chat about the prospectus.

Burry said large language models are improving and being used more efficiently, which he expects to continue to the detriment of growth rates. He also cited debt financing fragility and commoditized tokens.