Michael Burry said upcoming AI-linked mega-IPOs could surpass the scale of the internet bubble, arguing SpaceX, Anthropic and OpenAI together may match or exceed 2000-era fundraising after inflation.
His cited research showed 446 IPOs raised $108.15 billion in 2000 and 537 raised $95.33 billion in 1999, figures that marked the peak of the dot-com and TMT boom.
SpaceX alone is expected to raise more than $80 billion in a public offering next month, making a single deal large enough to rival a substantial share of those historic annual totals.
The comparison frames today's AI and private-tech listings as potentially larger than one of history's best-known market manias, underscoring how concentrated capital raising has become.
Can SpaceX's radical space-based AI strategy justify the largest IPO in history?
Is the AI market a historic investment opportunity or a delusion repeating the dot-com bust?