Michael Burry says neither SpaceX nor Anthropic is worth $1T

'Big Short' Michael Burry: SpaceX, Anthropic Not Worth $1 Trillion - Business Insider

Michael Burry, investor of "The Big Short" fame.

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2026-06-01T12:14:49.350Z

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SpaceX filed an IPO prospectus known as an S-1 on May 20, revealing that last year it made $18.7 billion in revenue and posted a net loss of $4.9 billion. It is widely reported to be targeting a valuation of roughly $2 trillion as a public company.

Anthropic announced last Thursday that it had raised capital at a $965 billion valuation, paving the way for a public listing at an even higher valuation.

Reacting to the news, Burry said in a subscriber chat that he's skeptical the AI startup will ever warrant that price tag.

"There is no guarantee, and not even a strong likelihood, that Anthropic is long-term worth anywhere near $1 trillion," he wrote.

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Burry added that Anthropic's business of developing cutting-edge AI models is "far too expensive, too much brute force," as over time, he expects computing power "will be commoditized, like internet use."

"What is happening now is a false demand signal," he wrote, echoing his recent warning that the "tokenmaxxing" trend won't last.

The frantic rush to secure computing power to run AI models is "driving buildout and orders that will be too much for what is needed a few years down the road," he added.

Burry quipped that before paying $1 trillion for Anthropic, he would count to 1 trillion, and "in 240,000 years I might reconsider."

SpaceX and Anthropic didn't immediately respond to requests for comment from Business Insider.

Burry shot to fame after his prescient bet against the mid-2000s housing bubble was chronicled in the book and movie "The Big Short."

Known for issuing grave predictions about crashes and recessions, he pivoted from running a hedge fund to writing about his personal investments on Substack late last year.

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