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Michael Burry<\/strong>, the famed investor who prophetically\u00a0shorted<\/a>\u00a0the housing market before the 2008 financial crisis, argued on Monday that major AI companies joining the panic around the technology were only doing so out of a \u201cself-serving\u201d need to provide \u201ccover\u201d for the slowing growth in the industry.<\/p>\n Burry has long\u00a0warned<\/a>\u00a0that AI companies\u2019 soaring stock prices represent a bubble that could tank the entire market if investors panic over the massive spending and limited revenue the companies operate with.<\/p>\n \u201cLet\u2019s all take a moment to understand how self-serving it is for OpenAI, Anthropic and other execs of big hyperscalers to talk of slowing things down,\u201d Burry\u00a0wrote<\/a>\u00a0on X Sunday night, adding:<\/p>\n 1. LLMs are not AI and won\u2019t be AGI. There is nothing AI to slow down.
\n2. Competition is coming up fast, slowing benefits incumbents.
\n3. IPOs need hype & puffery; \u201cwe are so awesome it could become dangerous\u201d is hype & puffery
\n4. Cover for real uncontrollable slowing growth as IPOs look to be pushed out<\/p><\/blockquote>\n
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