Investor Michael Burry criticized the heads of OpenAI, Anthropic, and other major tech companies for what he sees as a “self-serving” appeal to slow down AI development. His comments echo sentiments from prominent technologists, former President Trump, and even officials from China, all of whom have raised concerns about what they consider exaggerated fears surrounding AI.
Burry, known for predicting and profiting from the 2008 subprime mortgage crisis, expressed on X that the calls from these AI giants for a slowdown are primarily aimed at protecting their interests. He suggested that these demands are really a cover for the challenges they face in sustaining the extraordinary growth they enjoyed during the AI boom. “Perhaps they see a cooling period as beneficial, especially with IPOs in the works,” he noted.
He accused AI leaders of engaging in regulatory capture, where established companies use regulations to limit competition. Burry framed their appeals for a slowdown as merely a marketing strategy to create hype ahead of large IPO launches, saying that “IPOs need hype & puffery; ‘we are so awesome it could become dangerous’ is hype & puffery.” He previously likened the current AI investment frenzy to the dot-com bubble of the early 2000s.
OpenAI and Anthropic made IPO filings with the SEC earlier this summer, but Altman hinted at postponing the IPO, stating that pursuing one during current AI concerns might be “ill-advised.” Burry pointed out that large language models (LLMs) don’t equate to artificial general intelligence (AGI), and thus there’s nothing to “slow down” since, in his view, LLMs won’t achieve AGI.
His remarks follow calls for greater government oversight from notable figures including Anthropic’s Dario Amodei, Sam Altman from OpenAI, Google DeepMind’s Demis Hassabis, and Elon Musk, who have all argued for a slower pace of AI development. Their public statements have recently impacted AI stock prices.
David Sacks, a tech advisor for Trump, remarked that the push for a slowdown isn’t purely altruistic. Venture capitalist Bill Gurley suggested that if regulations are to happen, the regulatory bodies must remain independent and outside the influence of current leaders. Even Vice President JD Vance expressed discomfort with tech companies asking the government for regulatory measures, suggesting it feels suspiciously like a “trojan horse.”
In an essay, Dario Amodei advocated for a deceleration in AI advancements, to which Altman responded that pacing is necessary. Elon Musk also agreed with Amodei. Microsoft’s CEO, Satya Nadella, has supported the idea of a slower approach, highlighting the need for careful alignment in AI design.
Demis Hassabis from Google DeepMind has previously endorsed a global initiative to regulate powerful AI models, especially if risks intensify. These calls for slowing down AI are part of a sometimes contradictory discussion about safety and the safeguards needed in AI advancement. Anthropic, in particular, has been vocal about potential AI catastrophes while simultaneously raising significant funds to outpace competitors.
In August, the Trump administration introduced a voluntary framework for assessing new AI models, though specifics of this plan have not yet been publicly shared.
