While global tech giants continue to increase their massive AI spending, popular American investor Michael Burry, best known for correctly predicting the 2008 housing crisis, is ramping up his bets against leading chipmakers and raising worries over a possible market crash in the near future.
The veteran market investor has now shorted a series of companies operating in the artificial intelligence infrastructure space. In a post on June 30, Burry disclosed he refreshed his short position in iShares Semiconductor ETF, an exchange-traded fund that exclusively invests in firms selling chips and components powering the AI boom, Business Insider reported.
