The internet is loving ‘Big Short’ investor Michael Burry’s crusade against Nvidia and the AI giants

Market watchers are buzzing with excitement over Michael Burry’s latest crusade against the AI giants. The investor, famous for his role in “The Big Short,” has been making waves on social media after taking a bearish stance on Nvidia and other AI companies.

Burry, a vocal skeptic of the AI boom, has recently placed bets against Nvidia and Palantir, sparking a flurry of memes and online chatter. His hedge fund, Scion Asset Management, revealed that it held bearish put options on Nvidia and Palantir with a combined notional value of $1.1 billion.

The Palantir CEO, Alex Karp, dismissed Burry’s bets as “batshit crazy,” prompting Burry to fire back with a critique of Karp’s knowledge of the market. Despite the back-and-forth, Burry later revealed that he had exited the Palantir puts in October and terminated Scion’s SEC registration.

Most recently, Burry took aim at Nvidia following its third-quarter earnings beat. He raised concerns about the longevity of the company’s chips, its deals with other AI companies, and its stock dilution. While some market watchers ridiculed Burry’s bearish stance, others defended him, noting that he has a track record of making accurate predictions.

Nvidia’s stock initially rose after its earnings beat but later declined, dragging the entire stock market lower. The S&P 500 and Nasdaq Composite both experienced significant swings, marking the largest intraday swing since April.

Despite the market turmoil, some investors rallied behind Burry, praising his foresight and suggesting that he may have been right to be skeptical of the AI boom. Burry’s Palantir bet also garnered attention, as the stock has dropped 25% since his disclosure of puts.

While Burry has yet to comment on the online frenzy surrounding his crusade against the AI giants, his X bio hints at more to come. Followers eagerly await his next move, as his bio teases, “‘Unchained’ coming maybe sooner than Nov 25th.”

In conclusion, Michael Burry’s bold stance against the AI giants has stirred up the market and sparked debate among investors. Whether he proves to be right or wrong remains to be seen, but one thing is certain – his influence is undeniable in the world of finance.

Read the original article on Business Insider for more insights into Michael Burry’s latest moves.