Burry’s comments came as President Trump gathered AI executives at the White House to sign a voluntary self-regulation accord.
- CNBC’s Jim Cramer says Wall Street is “losing the battle of the narrative” on AI.
- Trump signs an AI accord he calls “morally binding” and orders agencies to say “Super Intelligence” instead of AI.
- OpenAI’s annual recurring revenue nears $70 billion, Axios reports.
“The Big Short” investor Michael Burry is taking aim at the AI boom just as two of its biggest private players move toward the public markets, warning that Anthropic and OpenAI could absorb trillions of dollars in capital with little to show for it. Burry holds put options on several AI-linked stocks, which gain in value if those stocks fall.
His latest broadside came as President Donald Trump gathered AI executives at the White House to push a voluntary self-regulation pact for the industry. “For the benefit of humanity, the markets should tank hard and prevent the OpenAI and Anthropic IPOs,” Burry wrote on X.
“These are companies that are going suck up and then destroy TRILLIONS of dollars of capital, and that will be the least of the damage they do,” he said in a separate comment.
Burry has repeatedly questioned whether the enormous spending in data centers and AI infrastructure can translate into adequate returns. Earlier this month, he argued that warnings from OpenAI, Anthropic and other AI leaders about slowing development were “self-serving,” suggesting they could help create hype around companies’ IPOs.
His concerns come as AI investment continues to balloon.
Anthropic’s IPO prospectus, according to Reuters, shows plans for roughly $518 billion in cloud, computing and infrastructure commitments in coming years, despite reporting a $42 billion net loss in 2025.
The planned listing could value the company at more than $2 trillion. OpenAI, meanwhile, has delayed its IPO until next year.
Jim Cramer Says AI’s Perception Waning
CNBC’s Jim Cramer said Tuesday that the artificial intelligence industry is losing the battle over public perception.
“The culture has turned against these people, these products, and the proponents have been caught flat-footed,” the “Mad Money” host said. He added, “Wall Street’s losing the battle of the narrative and all sorts of stocks might end up getting hurt.”
He said he worried that changing attitudes toward AI could pressure the biggest growth driver on Wall Street and an important source of growth for the U.S. economy overall.
Trump Pushes AI Self-Regulation
Trump on Tuesday hosted leading AI executives including Anthropic’s Dario Amodei, OpenAI’s Greg Brockman, Meta’s Mark Zuckerberg, Google’s Sundar Pichai and Nvidia’s Jensen Huang at the White House.
After the meeting, Trump said he was seeing “tremendous self-policing” and argued that the U.S. already regulates through agencies including the Department of Justice and FBI, while “self-regulation is very important.”
Trump and the executives signed a voluntary AI accord calling for companies to establish internal controls, work with independent external auditors and review whether their systems behave as intended. Trump described the agreement as “morally binding” and said his administration was considering a 10-person committee to oversee the industry.
Trump also signed an executive order directing federal agencies to use “Super Intelligence,” or “SI,” instead of “Artificial Intelligence,” or “AI,” in official communications. He reiterated support for expanding AI data centers, while saying companies should provide greater benefits to communities hosting them.
OpenAI, Anthropic IPO Watch
Investors are bracing for what could be among the biggest IPOs ever, but timelines have shifted repeatedly.
Anthropic’s IPO will likely come after the U.S. midterm elections in November, according to Reuters. OpenAI CEO Sam Altman said on Tuesday the company has no particular timeline, adding that safety work on its next generation of AI models is a bigger priority.
Market participants are closely watching the financial performance of both companies, which could shape sentiment toward a broader group of AI infrastructure and cloud providers that generate significant revenue from these AI labs.
OpenAI’s annual recurring revenue (ARR) is nearing $70 billion, as enterprise sales more than doubled since July, Axios reported, citing people familiar with the company’s financials. Oracle shares, whose business has become closely tied to OpenAI, rose nearly 4% after the report.
Anthropic’s revenue grew twelvefold to nearly $4.6 billion in 2025, according to an IPO prospectus Reuters reviewed. OpenAI’s current private market valuation is $908.65 billion, while Anthropic’s is $1.28 trillion, according to Nasdaq Private Market.
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