"Burry has offered cryptic social media posts about market omens: "Sometimes, we see bubbles," Burry said in a recent X post. "Sometimes, there is something to do about it. Sometimes, the only winning move is not to play." He followed up with a post on Monday showing three graphics, including one published by Bloomberg last month depicting how much of the AI boom is being propped up by partnerships with two companies, Nvidia and OpenAI."
"Palantir CEO Alex Karp rebuked Burry's move in an interview with CNBC's "Squawk Box" on Tuesday. "The two companies he's shorting are the ones making all the money, which is super weird," Karp said. "The idea that chips and ontology is what you want to short is batsh-t crazy." "He's actually putting a short on AI....It was us and Nvidia," he added."
Michael Burry's Scion Asset Management purchased more than $1 billion in put options on Nvidia and Palantir for the quarter ending Sept. 30. The puts allow profit if share prices decline and were disclosed in regulatory filings that also showed call options on Pfizer and Halliburton. Burry posted cryptic messages on X about market bubbles and shared graphics linking the AI boom to partnerships with Nvidia and OpenAI and to tech capital expenditure patterns resembling the dot-com era. Scion previously disclosed a put on Nvidia and liquidated nearly its entire equity portfolio; an earlier filing indicated such puts might hedge unreported long positions. Palantir CEO Alex Karp publicly criticized the short.
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