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4mo ago

Michael Burry Bets Over $1 Billion Against AI High-Fliers Nvidia and Palantir

Regulatory filings show new put positions that sharpen concerns over stretched AI valuations.

Michael Burry, le trader qui avait vu venir avant tout le monde l'effondrement du marché immobilier américain.
L'homme qui avait prédit la crise des subprimes prévoit une chute des géants de l'intelligence artificielle

Overview

  • Scion Asset Management disclosed put options totaling about $1.1 billion, including $187.6 million tied to Nvidia and $912 million to Palantir.
  • Nvidia recently neared a $5 trillion market capitalization as Palantir reported 63% year-on-year revenue growth, underscoring the sector’s rapid run-up.
  • Global stocks weakened as doubts over AI-related valuations grew, with the Nasdaq opening down about 1.5% and the S&P 500 initially off roughly 1%.
  • Palantir CEO Alex Karp criticized the move as “really strange” and described those betting against his company as “completely crazy.”
  • Deutsche Bank highlighted mounting talk of a potential correction, and Scion’s latest report omitted earlier language that its Nvidia puts could be hedges.