Recent warnings from AI leaders including Anthropic’s Dario Amodei and OpenAI’s Sam Altman about risks from rapid large language model advancement and rogue agents have amplified scrutiny, alongside Michael Burry’s updated calls for an imminent bubble pop due to hidden data center lease liabilities and circular financing. Oracle’s force majeure declaration on a major New Mexico project and sharp drops in API token prices—halved in recent months amid competition from DeepSeek and others—highlight mounting capex pressures exceeding monetization. Anthropic’s planned high-valuation IPO and OpenAI’s safety-lead resignation add near-term catalysts, while regulatory probes and power/infrastructure bottlenecks could further test trader sentiment on whether the current buildout sustains or faces repricing.