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The artificial intelligence sector carries a concentration risk that "Big Short" investor Steve Eisman says the market has not fully reckoned with.
His warning is specific: the AI boom has grown increasingly dependent on the fortunes of just two companies, OpenAI and Anthropic. He calls that dependency the industry's Achilles' heel.
The constraint Eisman is naming sits at the model layer.
Commercial AI value chains run from chip suppliers and data center operators through application developers and enterprise software vendors that have restructured their roadmaps around large language model access.
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