Citadel Founder Ken Griffin Says AI Is 'Almost Certainly' in a Bubble; Anthropic Eyes IPO

Ken Griffin, founder of Citadel, said in a Bloomberg interview at the firm’s annual “Global Market Future” conference in New York on October 20 that artificial intelligence is “almost certainly” in a bubble. Drawing a parallel with the internet era, he said companies that survive the bust could become market leaders for decades, just as Amazon did after the dot-com boom.

Griffin said Anthropic’s spending on computing power over the coming years could reach as much as $750 billion. Anthropic is expected to publicly file for an IPO within weeks. Whether Anthropic succeeds, he added, will ultimately depend on its ability to convince investors that its models are a “necessity” in every industry.

The billionaire warned that AI will threaten white-collar jobs such as translation and called for the United States to move from discussions about retraining to action. He also argued that lower barriers to starting businesses would usher in a “golden age” for entrepreneurs. Griffin said Citadel gave every equity researcher an AI assistant in late 2025 to accelerate research, but cautioned against outsourcing human judgment.