Big Short investor Michael Burry starts paid blog as he warns of AI frenzy

Michael Burry, the investor whose early warnings on subprime mortgages gained wide attention through The Big Short, has shifted his market commentary to a new platform after closing Scion Asset Management. His paid Substack newsletter, Cassandra Unchained, has already drawn more than 21,000 subscribers and is priced at $39 per month.

In recent posts, Burry places the rapid expansion of artificial intelligence at the center of his analysis. He draws parallels between the current AI wave and the late-1990s dot-com surge, arguing that the scale of investment in AI infrastructure resembles earlier periods of heavy speculative spending. According to Burry, major technology firms and fast-growing startups together are signaling nearly $3 trillion of planned AI-related capital expenditure over the next three years.

He identifies Microsoft, Google, Meta, Amazon, and Oracle as key drivers of this spending, and compares Nvidia’s position in the AI hardware supply chain to Cisco’s role during the dot-com era. Burry has also questioned growth forecasts in cloud services and raised concerns about how firms account for large infrastructure investments.

Burry said he decided to close Scion Asset Management because regulatory requirements limited how openly he could explain his views, sometimes leading to confusion about the meaning of his regulatory filings. He noted that the newsletter gives him more freedom to outline his reasoning and research.

Earlier, Qazinform reported that a senior Russian technology executive described artificial intelligence as forming a new kind of global “nuclear club,” in which only a limited number of countries develop their own advanced large language models.