Michael Burry said markets should crash hard enough to block OpenAI and Anthropic IPOs as Anthropic eyes a valuation above $2 trillion after a $42 billion 2025 loss.
Key Points:
- Burry said a market collapse could prevent OpenAI and Anthropic from reaching public investors.
- Anthropic’s filing shows a $42 billion 2025 net loss and $518 billion in future infrastructure obligations.
- The investor has also shifted several AI-linked bearish positions from stock shorts into put options.
Michael Burry Warning
Burry escalated his criticism of the AI investment boom in a Sept. 29 post on X, arguing that falling markets could keep the two companies private. His message was explicit. “For the benefit of humanity, the markets should tank hard and prevent the OpenAI and Anthropic IPOs,” he wrote.
A follower then joked that the goal was to stop “Skynet” from going public, referring to the hostile artificial intelligence in the Terminator franchise. Burry agreed. He replied, “Along those lines.”
The timing overlaps with financial details in Anthropic’s IPO prospectus, which Reuters reported could support a valuation above $2 trillion.
The company generated nearly $4.6 billion in 2025 revenue but posted a $42 billion net loss, while its operating loss was closer to $8.06 billion.
The filing also outlined $518 billion in future cloud, computing and infrastructure obligations. OpenAI, which filed confidentially in June, has been expected to list in 2027 after CEO Sam Altman ruled out a 2026 debut.
Also Read: Sam Altman Extends OpenAI IPO Wait Beyond 2026 Over AI Safety
Anthropic IPO Stakes
Burry also argued that the companies could “destroy trillions of dollars in capital,” making their funding requirements central to his bearish view of the AI trade. The sums are unusually large. A public listing would give investors direct exposure to companies whose spending plans and valuations are already reshaping the technology sector.
The dispute also reflects opposing views on whether safety concerns should influence the timing of major AI listings. Altman has said public-market pressure could complicate safety decisions, while Burry has described slowdown calls from major AI companies as self-serving. Their positions remain far apart.
Burry had already criticized OpenAI and Anthropic on Sept. 14, arguing that safety warnings could help generate IPO hype as growth slows. On Sept. 28, he replaced several AI-linked stock shorts with put options and said new research had moved his expected AI downturn closer than his earlier 2028 timeline. His timeline has changed.
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