US EditionNvidia rebuts critics in memo to analysts amid pushback campaign
Nvidia's memo counters inventory and accounting claims from Michael Burry and Substack authors to defend its $4.5 trillion valuation, according to Bernstein.
- Last week, Nvidia issued a memo to sell-side analysts rebutting claims by Michael Burry and Substack writers, defending its $4.5 trillion valuation, published by Bernstein on Nov 26.
- Earlier this month, Michael Burry deregistered Scion Asset Management and launched the Substack `Cassandra Unchained`, which drew 90,000 subscribers as he intensified criticism of Nvidia in recent weeks.
- In a seven-page memo, Nvidia's investor relations team said Burry `incorrectly included RSU taxes` and the buyback figure is $91 billion, not $112.5 billion, while rebutting a Substack AI analysis and acknowledging Blackwell chips' cost pressures.
- Bernstein published the memo on Nov 26 after shares fell following a report that Meta Platforms was in talks to use Google's AI chips, and users on X questioned why Nvidia defended itself against Google.
- If enough investors sell on Michael Burry's warnings, the bearish thesis could be self-fulfilling as he likens Nvidia to Cisco's late 1990s 75% collapse and holds put options worth over $1 billion.
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12 Articles
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Nvidia rebuts critics in memo to analysts amid pushback campaign
SAN FRANCISCO: Nvidia, the world's most valuable company, has gone on the defensive against skeptics of its US$4.5 trillion valuation, down from a historic US$5 trillion, by waging an information campaign on Wall Street and social media.
Nvidia rebuts critics in memo to analysts amid pushback campaign
By Stephen Nellis SAN FRANCISCO (Reuters) -Nvidia, the world’s most valuable company, has gone on the defensive against skeptics of its $4.5 trillion valuation, down from a historic $5 trillion, by waging an information campaign on Wall Street and social media. Last week, the company issued a detailed memo to sell-side stock analysts with a point-by-point rebuttal of claims made by Michael Burry, who was featured in the book and movie “The Big S…
This Thanksgiving's real drama may be Michael Burry versus Nvidia
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