US Edition‘The Big Short’s’ Michael Burry Is Back with Cryptic Messages — and Two Massive Bets | News Channel 3-12
Michael Burry placed a $1 billion bet against Nvidia and Palantir, warning of an AI bubble similar to 2008’s housing market crash, according to regulatory filings.
- Last month, a regulatory filing revealed Michael Burry, hedge fund manager, placed short positions on Nvidia and Palantir through Scion Asset Management, warning of an AI bubble.
- Michael Burry, famed for predicting the 2008 housing market crash in The Big Short, has a history of large bearish bets when spotting bubbles, James Kardatzke said.
- Scion Asset Management disclosed a 700million short against Palantir and a 145million short versus Nvidia, totaling an 845million bet against the AI boom via short selling.
- Following the filing, markets reacted as the tech-heavy Nasdaq fell while Palantir dropped 8 and Nvidia slipped 4, with Dan Coatsworth saying, 'Time will tell if Burry has got his timing right or if the share decline in pre-market trading simply represents a pause for breath before Palantir starts racing higher again.'
- Nvidia has risen more than 13-fold since 2023 and recently became the first $5 trillion company, while Palantir trades at nearly 250 times forward earnings after a 30-fold rise.
18 Articles
18 Articles
Palantir shares drop 8% despite 63% revenue growth as valuation concerns rise.
‘The Big Short’s’ Michael Burry is back with cryptic messages — and two massive bets | News Channel 3-12
By John Towfighi, CNN (CNN) — Michael Burry, the famed investor behind “The Big Short,” is betting artificial intelligence is more of a bubble than a revolution. Burry’s fund, Scion Asset Management, disclosed on Monday that it bought puts — bets that share prices will fall — on two stars of the AI wave: Nvidia (NVDA) and Palantir (PLTR). Scion bought roughly $187.6 million in puts on Nvidia and $912 million in puts on Palantir, according to Sec…
AI Stocks Waver as ‘Big Short’ Investor Bets against Palantir, Nvidia
A months-long rally in Big Tech stocks faltered Tuesday as artificial intelligence data company Palantir was targeted by a prominent short-seller, sparking invective from CEO Alex Karp and a sell-off on Wall Street.
Coverage Details
Bias Distribution
- 62% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
