‘The Big Short’ Investor Michael Burry Feels Neither SpaceX Nor Tesla Are Worth …

SpaceX and Anthropic may be racing towards their public issue, but The Big Short investor Michael Burry feels the stocks may be overhyped. In a discussion he started on Saturday, the investor questioned the worth of both SpaceX and Anthropic, stating that he did not think either of the companies was worth even $1 trillion.

SpaceX is aiming for a valuation of $1.8 trillion as per reports. Anthropic, which filed confidential papers with the Securities and Exchange Commission recently for its initial public offering, was valued at $965 billion last month after a funding round.

But for Burry, the hype does not translate to reality. Best known for predicting the US housing market crash, he wrote in discussion threads on his Substack that nothing in SpaceX's filing “suggests it is worth $1 trillion let alone $2 trillion," as per Business Insider.

He added in a subscriber chat, "There is no guarantee, and not even a strong likelihood, that Anthropic is long-term worth anywhere near $1 trillion". The investor quipped he would count to 1 trillion before paying the amount to Anthropic and "in 240,000 years I might reconsider."

According to Burry, Anthropic's business of cutting-edge artificial intelligence models is “far too expensive” and he believes computing power will be “commoditized, like internet use” over time.

"What is happening now is a false demand signal," Burry wrote.

This is not the first time Burry has slammed the hype over artificial intelligence. Last month, he warned that the stock market's fixation on AI resembled the final stages of the dot-com bubble.

“Absolutely non-stop AI,” Burry wrote in a Substack post, adding, "Nobody is talking about anything else all day."

The investor said that stocks are not linked to economic data or consumer sentiment in a logical manner, as per CNBC. “They are going straight up because they have been going straight up. On a two letter thesis that everyone thinks they understand,” he wrote.

Burry compared the Philadelphia Semiconductor Index (SOX)'s movement last month with the profits technology stocks made before their collapse in March 2000. The SOX index was up more than 10% in the week ending May 8, taking its gains in 2026 to 65%. Burry argued that technology stocks mirrored these gains in the final months of the dot-com bubble.