**Michael Burry’s $1.1 Billion Bet Against AI Stocks**
Michael Burry, renowned investor and founder of Scion Asset Management, has positioned himself against the stock prices of Palantir Technologies and Nvidia, citing them as overvalued. In his last 13F filing, Burry disclosed 50,000 put options on Palantir, valued at approximately $912 million, and 10,000 puts on Nvidia, with a notional value of about $186,580. Following a recent portfolio adjustment, Burry preserved his bearish stance, retaining options on Palantir with expirations in 2027 while selling shorter-term options.
Burry, who shut down his hedge fund last year, now manages his own investments and continues to express skepticism regarding the long-term growth potential of both stocks. Palantir, currently trading at around $174 per share, boasts a price-to-earnings ratio over 100, prompting Burry to suggest it could be worth less than $1 per share in the future. Meanwhile, he regards Nvidia’s heavy reliance on a few key customers as a significant risk, implying a potential revenue drop in the event of reduced capital spending.
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