Michael Burry Bets Against AI Boom with $1 Billion in Put Options on Nvidia and Palantir
By
jb1991
Kettled twice. Extra chewy, extra trustworthy.
Summary
Michael Burry, the investor famous for predicting the 2008 housing crisis, is betting against the AI boom by purchasing put options on Nvidia and Palantir worth over $1 billion. Burry believes artificial intelligence is more of a bubble than a revolution, and his fund Scion Asset Management disclosed these bearish positions. The article discusses Burry's history of contrarian bets, his cryptic social media messages about AI, and the broader context of AI stock valuations.
Key quotes
· 4 pulledMichael Burry, the famed investor behind 'The Big Short,' is betting artificial intelligence is more of a bubble than a revolution.
Scion bought roughly $187.6 million in puts on Nvidia and $912 million in puts on Palantir.
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.
The investor has a history of making contrarian bets and expressing concerns about market bubbles through cryptic social media posts.
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