‘Big Short’ Investor Michael Burry Warns of AI Bubble, Makes Bearish Bet on Nvidia and Palantir

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Title : ‘Big Short’ Investor Michael Burry Warns of AI Bubble, Makes Bearish Bet on Nvidia and Palantir
Link : ‘Big Short’ Investor Michael Burry Warns of AI Bubble, Makes Bearish Bet on Nvidia and Palantir

Michael Burry, the hedge fund manager who famously bet against the US housing market in 2008, and was portrayed by Christian Bale in 2015’s The Big Short, has disclosed bearish wagers on Nvidia and Palantir Technologies, based on his belief that the economy is in an AI bubble.

Bloomberg reports that in a series of 13F regulatory filings released on Monday, Michael Burry’s Scion Asset Management revealed that it had bought put options on Nvidia and Palantir, indicating a bearish stance on the two companies. The disclosures came just days after Burry posted a cryptic warning to retail investors about market exuberance on social media, including an image of his character from The Big Short movie and a warning that “sometimes, we see bubbles.”

Shares in Palantir, which had recently raised its annual revenue outlook, fell by 6.8 percent in morning trading following the news, as analysts pointed to the stock’s soaring valuation. Nvidia shares were also lower, slipping as much as 2.79 percent. Investor concerns have been on the rise for months, as a wave of circular deals involving OpenAI, Nvidia, and other AI-focused firms sparked worries that the AI boom is being artificially propped up. Burry’s bearish wagers on these companies have further fueled these concerns. (Read More)