When the last bears turn bullish, who is left to buy? Michael Burry’s shift comes with stocks at all-time highs.

I am going to focus on doing less.

Price tells a story
Sentiment tells a story
Market cycle tells a story
Breadth tells a story

We've gotta include all of them into our portfolio management.

— Prof (@TheProfInvestor) October 7, 2026

Breaking: Michael Burry says markets grieve the same way every bull market top

And blames stimulus checks for delaying a crash

Here’s his breakdown:

1. Denial comes first, the market top forms here, and it can last 6 to 9 months or longer

2. Anger follows, fueling the violent, steep drops early in a bear market

3. Bargaining comes next, where value investors poke at fallen names hoping for a bottom

4. Depression and acceptance come last, closing out the cycle

5. He says monetary and fiscal stimulus has interrupted this grieving process for two decades straight

Breaking: Michael Burry says markets grieve the same way every bull market top

And blames stimulus checks for delaying a crash

Here's his breakdown:

1. Denial comes first, the market top forms here, and it can last 6 to 9 months or longer

2. Anger follows, fueling the… https://t.co/BXFXYegO7t pic.twitter.com/FLGIKWB4jy

— Michael Burry Stock Tracker ♟ (@burrytracker) October 8, 2026

Yesterday, Oracle fell 5.5% to $135.69.

The FT had reported that OpenAI told investors its annualized revenue was approaching $50 billion at the end of September.

The figure reported last month was about $70 billion. pic.twitter.com/4I354cXSTv

— Bull Theory (@BullTheoryio) October 9, 2026

$SPX

Two corrections, almost identical.

2024: -9.70%
2026: -9.78%

What followed?

First rally: +20.08% in 135 bars
Current rally: +24.18% in 131 bars.

Now look at those two blue structures near the highs.

Interesting similarity in both time and price.

Doesn't mean the top… pic.twitter.com/XaRlKJdpCs

— Mo (@optionflys) October 9, 2026

JUST IN: The amount of money investors are borrowing from their brokerage firms to purchase securities has climbed to record levels, per CNBC

— unusual_whales (@unusual_whales) October 9, 2026

It’s so strange. 90% of the country is in a severe recession but the stock market remains high.

Times have never been tougher for many families https://t.co/SZ7On4Wfzo

— QE Infinity (@StealthQE4) October 9, 2026

Michael Burry, the investor who predicted the 2008 housing crash, is now issuing a major warning about the artificial intelligence bubble. The Big Short investor says he is moving up his timeline for an AI market crash, potentially before September 2027, and is increasing his short positions as concerns grow about the sustainability of the massive AI spending boom.

According to the Wall Street Journal, the AI data center buildout is becoming one of the biggest capital investment cycles in American history, potentially exceeding the railroad boom of the 1800s and the telecom bubble of the late 1990s. Companies like Microsoft, Google, Meta, Amazon, and Oracle are spending hundreds of billions of dollars building AI infrastructure, while OpenAI and Anthropic are experiencing explosive revenue growth.

In fact, estimates from Ticker Trends suggest Anthropic has reached approximately $76 billion in annual recurring revenue (ARR), while OpenAI has reportedly reached a $70 billion annualized revenue run rate, according to Reuters. These figures, if sustained, would represent some of the fastest revenue growth in corporate history and demonstrate that real economic demand exists for artificial intelligence.

However, there’s a growing concern that this spending is creating a massive financial bubble. AI data center construction is increasingly being financed with debt, while the cost of AI tokens continues to decline. If tech companies begin cutting back on capital expenditures in 2027 or 2028, it could trigger a major correction in the Nasdaq and S&P 500, weaken consumer spending, and potentially push the U.S. economy into recession.

The question is whether AI will deliver enough economic value to justify these record investments, or whether we’re witnessing another historic boom-and-bust cycle similar to the railroad crashes of the late 1800s and the dot-com bubble of 2000. Even if artificial intelligence transforms the economy over the long run, that doesn’t necessarily mean today’s stock market valuations and data center spending are sustainable.

And if the AI bubble does burst, the consequences could extend into the U.S. housing market, impacting home prices, mortgage demand, and buyer confidence heading into 2027.