Recent safety warnings from AI leaders including Anthropic’s Dario Amodei and OpenAI’s Sam Altman, alongside Michael Burry’s alerts on off-balance-sheet data center liabilities exceeding $800 billion, have amplified trader focus on bubble risks for the “AI bubble burst by...?” market. Hyperscalers face $1 trillion-plus 2026 capex amid collapsing token prices—halved since June due to competition from DeepSeek and others—while monetization lags infrastructure costs. Oracle’s force majeure on a major project and OpenAI’s IPO delay to 2027 underscore execution and funding strains. Key upcoming catalysts include Anthropic’s planned IPO, FTC probes into model risks, and hyperscaler earnings that could reveal whether large language model adoption sustains the spend. These dynamics reflect aggregated trader skepticism toward unproven returns on frontier AI capabilities.