Michael Burry said he has no plans to own Anthropic stock when the AI company goes public, writing in a Substack post on Wednesday that Anthropic is "betting its entire existence" on optimism. Burry, who has been bearish on the initial public offering since Anthropic unveiled its prospectus last month, pointed to the amended prospectus filed on November 2, which showed revenue surged to $17 billion in the third quarter while compute costs are high and will keep rising. He highlighted the $895.4 billion Anthropic has committed to spending on AI compute power, chips and other infrastructure, noting that even bullish investors anticipate revenue will reach $100 billion in the coming year, a fraction of expected spending. Burry said future spending commitments would exceed the bullish revenue target by roughly 12 times and that investors haven't grasped how this could affect Anthropic's business and the wider AI trade. He also raised concerns about "take-or-pay" contracts with large hyperscalers, saying Anthropic could end up paying more for compute when it is not needed, increasing costs and reducing competitiveness with other language model providers. Burry said he does not expect to be a shareholder anytime soon.