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Michael Burry’s Recent Market Moves
Hedge fund manager Michael Burry, known for predicting the U.S. housing market crash, has made significant bets against two major players in the artificial intelligence sector: Nvidia and Palantir Technologies. In his third-quarter 13F filing with the U.S. Securities and Exchange Commission, Burry’s Scion Asset Management reported purchasing $186 million in put options on Nvidia and $912 million on Palantir, totaling over $1 billion against these companies.
This move comes as Nvidia has seen a 1,200% increase in stock value and Palantir a 2,200% increase over the past three years, despite their strong earnings growth amid the AI boom. Burry’s strategies often indicate a bearish outlook, raising questions about whether a bubble is forming in the AI market, which is projected to exceed $2 trillion by the end of the decade.
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