Michael Burry: $573B AI Financing Web Exposed

Michael Burry flags a $573B AI financing web mapped by Ares Management across 26 deals that tie Meta, Oracle, Microsoft, Amazon, Google, Nvidia, OpenAI and Anthropic together. Every backstop assumes unbroken AI spending growth while US and Bermuda insurers hold roughly $10T in float to support the buildout. Nvidia H100 chips have already lost 51% of their value in three years per the Ares data, and any revenue miss would cascade through the guarantees exactly when counterparties are most exposed, amplifying AI financing risks and broader AI industry impact.