Michael Burry is back with two bets against Nvidia and Palantir
17 days ago
- #Stock Market
- #AI Bubble
- #Michael Burry
- Michael Burry, known for predicting the 2008 housing crash, is betting against AI stocks like Nvidia and Palantir.
- Scion Asset Management, Burry's fund, disclosed $187.6M in puts on Nvidia and $912M in puts on Palantir.
- Burry's recent social media post hinted at market bubbles, aligning with his bearish AI stock positions.
- Tech stocks, including Palantir and Nvidia, saw significant drops amid growing concerns of an AI bubble.
- Palantir's CEO dismissed short sellers like Burry, calling them 'crazy' and motivating the company to perform better.
- Despite recent pullbacks, Palantir and Nvidia stocks remain up significantly year-to-date.
- Analysts note tech valuations are extreme, with Burry's comments exacerbating market concerns.