“The Big Short” investor Michael Burry wrote on his Substack that he won’t buy Anthropic shares when the company goes public, arguing that it’s “betting its entire existence” on optimism. Burry pointed to the $895.4B Anthropic has committed to spend on compute, chips, and other infrastructure, which it disclosed in its amended IPO filing, and said that sum dwarfs even the roughly $100B in yearly revenue that bullish investors expect. He’s also worried about Anthropic’s take-or-pay contracts with large cloud providers, which he said could leave it paying for compute it doesn’t need and make it less competitive with rival AI labs. Burry had praised Anthropic as recently as April, when he said it was “eating Palantir’s lunch.”
