The enthusiasm for everything that artificial intelligence has for all things contributed to this Legendary Shortk Group Jim Chanos.
The founder of Chanos & Co. compared the dominance of AI companies with networking giants such as Cisco and Lucent, who characterized the market of the nineties, and their shares rose as companies upgrading their systems for the new Internet age. When the ODD LOTS podcast in New York live, he warned that a potential withdrawal of the demand for corporate customers for AI-related goods and services could trigger a contraction for both corporate results and for economic growth.
The risk is that customers who spend the billions of dollars on for everything, from data centers to semiconductors, could contain their capital expenditure unexpectedly. In the early 2000s, at the height of the Bladder Technology, Media and Telecommunications (TMT), companies such as Cisco and Lucent suddenly saw their massive order catches and their ratings.
With some signs of slowing down the labor market and potential disorders from tariffs, it is possible that large corporate customers reduce their expenditure plans again.
“There is an ecosystem around the KI boom, which is considerable as a TMT in ’99 and 2000,” said Chanos. “But it is a riskier sources of income, because if people withdraw, they can easily withdraw Capex. Projects can be put into the queue for six or nine months, and this is immediately shown in disappointing income and prognosis if it happens.”
“We’re not there yet, but that’s one of the risks out there that I think many people underestimate,” said Chanos.
Chanos warned of other absurdities from other markets, including the spread of Bitcoin Financial Companies Collecting the money to buy and keep cryptocurrency. With Michael Saylor, the founder of strategy, he shortened in a top -class dispute over the value of the company. The market capitalization of the strategy of more than 100 billion US dollars far exceeds the value of around 60 billion US dollars of cryptocurrency in its balance sheet.
Saylor has justified the high evaluation of the strategy by arguing that the company’s ability to collect money in a premium essentially means that his business model is “risk -free”.
“There is a wonderful sales job that is done about the fact that this is an economic engine on and in itself,” said Chanos. “And that’s why terms such as” Bitcoin Rendite “are used, and I have given them financially gunning because they are.”
When he was asked about his thoughts about Tesla Inc., whose share Chanos was short -circuited, he again stood on the Cisco parallel.
“There is always a stock in every bull market that has, at least so that I call it hopes and dreams,” he said. “Everyone can really project their hopes and dreams onto this company and then appreciate it as they want. And Cisco was in ’99. And (now) it is undoubtedly Tesla.”
“You could see how Elon deprived a Brink’s truck with a mask or whatever (and people would say).
