Michael Burry claims that Anthropic's valuation of $965 billion could allow for the purchase of 78 profitable companies in the S&P 500 index, calling such a price a bubble. Among the companies he mentioned are Domino's, Clorox, lululemon, and Hormel Foods, as well as Smucker, Stanley Black & Decker, and Deckers. However, Burry did not specify which valuation of Anthropic he used. The last private round in May valued the company at $965 billion ahead of its planned initial public offering (IPO). The $65 billion round included participation from Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.
Anthropic was founded in 2021. According to a leaked draft prospectus, the company reported a net loss of $42 billion for 2025, Fortune reported. Reuters noted that most of the loss is an accounting charge rather than operating expenses. The same document shows $11.5 billion in revenue for the second quarter of 2026 and indicates a second consecutive operating profit. It also lists $518 billion in planned expenditures on cloud and infrastructure base in the coming years.
Burry also compared the valuation to the 1990s. According to him, United Parcel Service (UPS) held the 1990-2000 record for an inflation-adjusted pre-IPO valuation of $119 billion. This price equaled 26 times earnings and 2.4 times revenue. At that time, UPS was 92 years old, and the net margin was about 8.6%.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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