Steve Eisman called the reliance on OpenAI and Anthropic a weak point in the AI boom
Investor Steve Eisman, known for betting against the U.S. housing market before the global financial crisis, said that the artificial intelligence boom is increasingly dependent on the success of OpenAI and Anthropic. He made these remarks during an appearance on CNBC’s “Fast Money.”
According to Eisman’s estimates, these two startups account for approximately 70% of the AI-related revenue of Microsoft, Amazon, Google (part of Alphabet), and Oracle. He also stated that OpenAI and Anthropic could account for 25% to 35% of these corporations’ cloud revenues.
According to the investor, the future of these major tech companies depends largely on whether OpenAI and Anthropic succeed. He identified Chinese open-source AI models with open weights as the greatest risk to revenue; these, he said, are significantly cheaper and appear to be gaining market share.
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Eisman suggested that problems at OpenAI or Anthropic, combined with the growing popularity of cheaper Chinese models, could trigger a large-scale price war. His statement came amid discussions about whether the significant costs associated with AI development will yield sufficient returns.
Investor Michael Burry, also known for betting against the U.S. mortgage market, takes a more pessimistic view of the sector. He questioned whether current and future demand for AI is being driven by end customers and also revealed bearish positions on Nvidia and the broader semiconductor sector.
