Michael Burry, the investor famous for predicting the 2008 housing crash and capitalizing on it, is now going after AI stocks. Burry has previously made several unsuccessful bets against AI stocks and failed to repeat his original success. However, his recent actions seem more aggressive, and Wall Street is all ears.
That's because, unlike last time, most investors are now doubting whether this AI rally can keep dragging on. Burry does not think so, and he launched a very public and scathing critique of Nvidia (NVDA) alongside other AI beneficiaries like Palantir (PLTR). And it seems like he has his money where his mouth is, with Scion Asset Management buying over $1 billion in put options on Nvidia and Palantir before he closed the fund to outside investors.
