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Chinese hedge fund managers warn AI stock super bubble may be nearing rupture

Chinese hedge fund managers warn AI stock super bubble may be nearing rupture

Yang Dong said many popular A-share stocks could fall 80% to over 90%, while Li Bei pointed to slowing Anthropic ARR growth as a potential trigger.

Fact Check
All claim elements are independently corroborated. 中国基金报 and Bloomberg (via Yahoo Finance) confirm Yang Dong (宁泉/Wealspring) called AI stocks a 'super bubble' near collapse and predicted hot A-shares could fall 80-90%+, while Li Bei (半夏/Banxia) said the bubble-burst trigger has appeared, explicitly citing slowing Anthropic ARR growth. 上海证券报 and the supplied BlockBeats/Odaily flashes match these details. The specific figures (80% to over 90%) and the Anthropic ARR trigger are consistently reported across multiple authoritative independent outlets.
Summary

Chinese hedge fund managers Yang Dong and Li Bei said in June reports that global AI stocks have entered a "super bubble" and could be approaching a break. Yang Dong warned that many popular A-share stocks may drop 80% to over 90%, underscoring the scale of downside he sees in crowded AI-linked names. Li Bei said slowing Anthropic ARR (annual recurring revenue) growth suggests the conditions for an AI-bubble trigger have already emerged. The remarks reflect rising concern that investor enthusiasm around artificial intelligence has outpaced fundamentals, a pattern often associated with late-stage market manias.

Terms & Concepts
  • A-share stocks: Shares listed on mainland China exchanges
  • ARR: Annual recurring revenue, a subscription-growth metric