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Michael Burry warned that a network of eight technology firms is using cross-company loans and debt guarantees to sustain the current AI expansion, citing $573B in financing over the last 12 months flowing between Meta, Nvidia, Oracle, Microsoft, Amazon, OpenAI, Anthropic, and Broadcom. He compared this circular financing cycle to the structure that led to the 2000 telecom bubble and argued the current stock market is in a stage of denial that historically lasts 6 to 9 months.
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Key sources
- SOURCE@burrytracker“Burry shared a report from Wall Street lender Ares tracking $573B of AI financing from the last 12 months”x.com
- SUPPORT@unusual_whales“The stock market is quite obviously in its first stage of grief, denial. Per 2000 and 2008, this stage lasts 6-9 months.”x.com
- SOURCEhuggingnewshuggingnews.com