Michael Burry Bets Big Against AI Stocks Nvidia and Palantir with $1.1B Put Options
Renowned investor Michael Burry, famed for predicting the 2008 housing crash, has placed a $1.1 billion bearish bet against AI leaders Nvidia (NVDA) and Palantir (PLTR). Scion Asset Management's latest filing reveals put options on 5 million Palantir shares and 1 million Nvidia shares—accounting for 80% of its portfolio.
The MOVE signals deep skepticism toward the AI rally that has propelled both stocks this year. Put options gain value when shares decline, suggesting Burry anticipates a reversal in these high-flying tech names. His warning of an "AI Bubble" now manifests in market positions.
Nvidia remains a crypto-adjacent stock due to its GPU dominance in mining rigs, though no direct cryptocurrency exposure appears in this trade. The contrarian play echoes Burry's history of bold, against-the-grain wagers—most famously chronicled in.
