Michael Burry, immortalized by Christian Bale in The Big Short, revealed bets against Nvidia and Palantir worth about $10 million, The Wall Street Journal reported.
His wager pays off if Nvidia drops 37 percent to $110 by 2027 (it’s around $190 now) and Palantir falls to $50 from roughly $200. Burry announced his AI prediction in his new Substack newsletter.
He argues the AI market has “detached from reality,” comparing it to the dot-com bubble. He also compares Nvidia to Enron, saying the company is using tactics that exaggerate chip life expectancy and accounting to inflate earnings.
Is he correct? Although Burry made $700 million betting against the housing market before the 2008 crash, many of his predictions over the past 15 years have not panned out.
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