US EditionAlex Karp blasts ‘Big Short’ investor Michael Burry as ‘bats--- crazy’ for bets against Palantir, Nvidia
- On Monday, a regulatory filing showed Michael Burry's Scion Asset Management bought more than $1 billion in put options on Nvidia and Palantir Technologies, including about $187 million on Nvidia and roughly $912 million on Palantir.
- Late last month, Burry warned of a bubble and wrote, `Sometimes, the only winning move is not to play`; debate has intensified in recent weeks over Palantir Technologies trading nearly 250 times forward earnings.
- The firms have been beneficiaries, as Palantir reported a record US$1.18 billion in revenue for the quarter ending September 30, and shares are up more than 170% this year.
- On Tuesday, markets fell with the Nasdaq down 1.5% and Palantir Technologies shares dropping around 6% after a strong quarterly update.
- Nvidia's earlier $5 trillion valuation highlights AI rally concentration as Ted Pick and David Solomon warn of a 10% to 20% drawdown likely in the coming years.
40 Articles
40 Articles
Michael Burry Bets $1B Against Nvidia & Palantir, AI Crash Incoming?
Hedge‑fund legend Michael Burry, known for forecasting the 2008 housing‑market collapse, is betting big against two of the hottest names in tech: Nvidia and Palantir Technologies. In recent filings by his firm Scion Asset Management, Burry revealed massive put‑option positions that suggest he believes the AI boom has entered bubble territory. According to the disclosures, Scion held put options on 1 million shares of Nvidia with a notional value…
'Big Short' Investor Michael Burry Warns of AI Bubble, Makes Bearish Bet on Nvidia and Palantir
Michael Burry, the hedge fund manager who famously bet against the US housing market in 2008, and was portrayed by Christian Bale in 2015's The Big Short, has disclosed bearish wagers on Nvidia and Palantir Technologies, based on his belief that the economy is in an AI bubble.
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