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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Why Michael Burry's Caterpillar Short Is Bigger News Than His AI Bets Against Nvidia and Tesla

Michael Burry Caterpillar Nvidia Tesla Inc. Substack
Michael Burry believes the Caterpillar stock valuation was partly driven by rising AI data centre capex. (PHOTO: TheStreet/Facebook)

Michael Burry just bet against a 100-year-old industrial company that has been one of his long-time favourite stocks. According to Burry's latest post on Substack, he shorted Caterpillar, whose core business is the sale of construction and mining equipment.

Burry disclosed shorting the stock at $1,060.98. The stock price crashed 6.9% yesterday to close at $991.41. The former hedge fund manager also disclosed shorted Nvidia at $198.09, Applied Materials at $729.40, Tesla at $416.22, and the SOXX semiconductor index at $642.80.

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