Renowned bear Jim Chanos warns of AI sector pullback risk, criticizes listed companies holding Bitcoin as' absurd '

According to Fortune magazine, well-known short selling firm Chanos& Co founder Jim Chanos warns that although the AI boom has boosted the stock market, its ecosystem may face a pullback. He compared AI companies to the network giants Cisco and Lucent in the 1990s. When the TMT foam burst, their orders and valuations plummeted. Nowadays, with the slowdown of the labor market and the interference of tariffs, companies may cut AI spending, reduce capital expenditures, shelve projects, and their revenue and profit expectations will be impacted. This risk is underestimated. In addition, Chanos has been warning of other absurd phenomena in the market, such as the surge of listed companies holding Bitcoin. He had a dispute with Michael Saylor, the founder of Strategy, over the company's high valuation. Saylor claimed that Strategy could raise funds at a premium and its business model was "risk-free," while Chanos dismissed his claims as financial nonsense. When it comes to Tesla, Chanos uses the analogy of Cisco, stating that every bull market has stocks that carry people's hopes and dreams. In 1999, it was Cisco, and now it is undoubtedly Tesla.