Steve Eisman
speaker
277 appearances
2 recordings
1 series
first heard Mar 2026
last heard 6 Aug
Steve Eisman’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.
Appearances
But that's one big change.
And I think the other major change is that the LLM agentic AI business, which is really anthropic and open AI and really just a few other people, doesn't seem to have any moats around it.
because people switch from models to models, and now you have the open-end models from China, which are much cheaper, and people seem to be switching to, and so maybe there'll be a price war, maybe not.
Where I think the chink in the armor potentially is, I read this report that basically said something like 70%
of Amazon and Google's and Microsoft's AI CapEx businesses are from OpenAI and Anthropic.
So if I hear this, this, this is what I'm looking for.
If a massive price war broke out because of the Chinese models and OpenAI and Anthropic got in big trouble.
That would unwind a lot of the AI trade because then OpenAI and Anthropic would not be able to spend as much, which would mean that fewer chips would be bought.
I mean, you could figure out the rest.
But until that happens...
You know, these companies keep spending money like it's water.
So, you know, NVIDIA is going to report on, I think, August 26th.
I mean, it has to have a good quarter.
How could it not have a good quarter when Amazon is spending $225 billion this year on CapEx?
So until we see real weakness, I think, out of OpenAI and Anthropic, I'm not on Burry's side.
Losing billions is a euphemism.
If only they were just losing billions.
Okay.
I mean, you know, the news is still, the economy is still good.
If there is a price war, the market's going to kind of have to have it head over the head by a two by four.
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