The artificial intelligence (AI) boom is in full swing, which means lots and lots of comparisons to the late-’90s dot-com boom and bust. One such investor who was around at that time is short-seller Jim Chanos, who became famous by shorting Enron before it crashed in 2001.
Chanos still sells short through his investment advisory Kynikos Associates, and recently took to X, formerly known as Twitter, to make a bearish case for one of this year’s hottest IPOs, AI “neocloud” CoreWeave (NASDAQ: CRWV).
So, should CoreWeave’s shareholders be worried? The bear case is worth noting, but CoreWeave management also has a serious argument to refute it.