"Known for his dire warnings of crashes and recessions, Burry goes by "Cassandra" on X - a reference to the priestess from Greek mythology who was cursed to speak true prophecies but never to be believed. He burst back onto X in late October after more than two years of silence, and wasted no time firing off several warnings about a dangerous bubble in AI stocks."
"His hedge fund, Scion Asset Management, revealed days later that at the end of September it held bearish put options on Nvidia and Palantir with a combined notional value of $1.1 billion. Palantir CEO Alex Karp called the bets "batshit crazy" in a televised interview, spurring Burry to fire back that the AI company's boss couldn't "crack a simple 13F.""
"In later posts, Burry said that he wasn't short and had exited the Palantir puts in October. He also terminated Scion's SEC registration, closing it to outside cash. Most recently, he took aim at Nvidia after its third-quarter earnings beat on Wednesday. He questioned the longevity of its chips, its "give-and-take deals" with other AI companies, and its stock dilution."
Michael Burry placed bearish put options on Nvidia and Palantir, with a combined notional value of $1.1 billion at the end of September. He reappeared on X under the handle "Cassandra" and warned of a potential bubble in AI stocks. Palantir CEO Alex Karp called the bets "batshit crazy," and Burry responded by questioning Karp's grasp of filings. Burry later said he exited the Palantir puts and closed Scion's SEC registration to outside cash. He also criticized Nvidia's chip longevity, partner deal structures, and potential stock dilution after its earnings beat.
Read at Business Insider
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