Oracle

Apple

Artificial intelligence&nbsp;can change the world without every company being worth the price investors are paying. That gap is getting harder to ignore.
The expectations surrounding Anthropic's upcoming IPO offer another sign of investor enthusiasm for artificial intelligence. The company <a href="https://www.anthropic.com/news/s1-sec" rel="noopener noreferrer nofollow">publicly filed</a> for its initial public offering on Oct. 26, though its share price and offering size have not yet been determined.&nbsp;
Some current and prospective investors, however, value the AI firm at around $1.5 trillion, <a href="https://www.reuters.com/legal/transactional/anthropic-opens-books-ais-explosive-growth-staggering-costs-2026-10-26/" rel="noopener noreferrer nofollow">Reuters reported</a>.&nbsp;
Billionaire investor Mark Cuban thinks markets have already crossed into the crypto and AI bubble territory.
<a href="https://www.thestreet.com/crypto/markets/arthur-hayes-says-ai-bubble-wont-burst-like-2008" rel="noopener noreferrer nofollow">Related: Arthur Hayes says AI bubble won’t burst like 2008</a>
In <a href="https://www.youtube.com/watch?v=6VTSAs4Rsck" rel="noopener noreferrer nofollow">an interview released Monday</a>, Cuban said the setup differs from the dot-com boom because "everything's a meme stock."
"Bitcoin is a meme stock, right? Pick Micron, you know, pick Google, Apple, they're meme stocks."
Cuban was not saying Bitcoin is literally a stock. His point spotlighted the broader trading behavior.&nbsp;
On Jan. 9, 2024, for instance, Bitcoin jumped to around $48,000 after <a href="https://www.reuters.com/technology/us-sec-has-not-approved-bitcoin-etfs-social-media-account-compromised-2024-01-09/" rel="noopener noreferrer nofollow">a false post from the SEC's compromised X account</a> claimed spot Bitcoin ETFs had been approved.&nbsp;
Within minutes, however, BTC fell back to $45,000 right after the agency disavowed the announcement.&nbsp;Apple offers a more recent example.&nbsp;
<figure>
 <figcaption>
 The Apple iPhone Duo foldable smartphone during a product unveiling event at Apple Park in Cupertino, California, US, on Wednesday, Sept. 9, 2026. 
 Getty Images
 </figcaption>
</figure>
Shares of the iPhone-maker<a href="https://finance.yahoo.com/markets/stocks/articles/apple-overtakes-nvidia-worlds-most-140916277.html" rel="noopener noreferrer nofollow"> rose as much as 1%</a>&nbsp;in early trading on Oct. 23 as the iPhone Duo reached stores following strong pre-orders and delivery estimates stretching into January.&nbsp;Apple shares were down about 1.3% <a href="https://in.tradingview.com/symbols/NASDAQ-AAPL/" rel="noopener noreferrer nofollow">in trading Monday</a>, giving back part of those gains.
Cuban argued that investors now move rapidly in and out of major assets on relatively small pieces of news instead of focusing on long-term value.
"We're trading them like baseball cards," Cuban said, adding that he believes markets are in a bubble for that reason.
He was less certain about what could end it.
<blockquote>
 "What causes it to burst? I have no idea."
</blockquote>
<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/goldman-sachs-revises-rating-and-target-on-beaten-down-ai-stock" rel="noopener noreferrer nofollow">Goldman Sachs revises rating and target on beaten-down AI stock</a></li>
 <li><a href="https://www.thestreet.com/crypto/artificial-intelligence/sam-altman-has-kind-words-for-elon-musks-flying-car" rel="noopener noreferrer nofollow">Sam Altman has kind words for Elon Musk’s flying car</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/trump-vows-crypto-scam-crackdown-then-gets-hit-with-lawsuit" rel="noopener noreferrer nofollow">Trump vows crypto scam crackdown then gets hit with lawsuit</a></li>
</ul>
<h2 id="why-cuban-s-warning-has-a-real-world-backdrop">Why Cuban's warning has a real-world backdrop</h2>
Meta <a href="https://investor.atmeta.com/investor-news/press-release-details/2026/Meta-Reports-Third-Quarter-2026-Results/default.aspx" rel="noopener noreferrer nofollow">spent $34.91 billion on capital projects</a> in the third quarter of 2026, exceeding the $32.79 billion it generated in operating cash flow. This left the Mark Zuckerberg-led company with negative free cash flow for the period.
Last week, Meta beat Wall Street's third-quarter revenue expectations and forecast stronger fourth-quarter sales. But <a href="https://www.investing.com/news/stock-market-news/nasdaq-futures-drop-over-1-as-ai-worries-resurface-oil-climbs-4965180" rel="noopener noreferrer nofollow">shares still fell about 7% on Oct. 22</a> as investors focused on its enormous AI spending plans and a new non-voting share class it said could help fund growth.
Earlier this month, the stock prices of Nvidia, Oracle and CoreWeave also dropped after investors received <a href="https://www.cnbc.com/2026/10/08/open-ai-revenue-nvidia-oracle-coreweave.html" rel="noopener noreferrer nofollow">clarification around OpenAI's annualized revenue figures</a>.&nbsp;
The difference reflected how revenue through partners was counted, not billions of dollars in suddenly lost sales. The clarification rippled through several AI-linked stocks.
Still, the AI boom is backed by real demand.&nbsp;
Nvidia <a href="https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-Financial-Results-for-Second-Quarter-Fiscal-2027/default.aspx" rel="noopener noreferrer nofollow">reported $89 billion in data-center revenue for its fiscal second quarter</a>, up 117% from a year earlier.
Cuban’s point here is not that AI is fake, but that, in his view, investors are overpaying for the hype
His advice was simple: "Have some cash because at some point it's going to turn." He expects winners to emerge, but says he does not know which companies they will be.
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>.
<a href="https://www.thestreet.com/crypto/policy/netanyahus-warns-u-s-military-aid-could-end-eyes-new-plan" rel="noopener noreferrer nofollow">Related: Netanyahu warns U.S military aid could end, eyes new plan</a>

Mark Cuban puts Bitcoin and Apple in the same bucket

Table of Contents

TheStreet Roundtable

Other articles published on Oct 26, 2026

Join our free newsletter for daily crypto updates!