- Steve Eisman — the "Big Short" investor — warns the AI trade is dangerously concentrated in just two companies, OpenAI and Anthropic, which he says drive roughly 70% of AI revenue for major cloud players.
- He fears cheaper, open-weight Chinese models could trigger a damaging price war that hurts incumbents and the broader AI ecosystem, though markets have mostly shaken off earlier jitters.
- Anthropic's rumored mega-IPO (talk of a $2 trillion valuation) has everyone waiting for real financials — Eisman says public filings are needed to judge how fragile the AI bet really is.
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