Michael Burry, immortalized by Christian Bale in The big short onerevealed bets against Nvidia and Palantir worth about $10 million, The Wall Street Journal reported.
His bet pays off if Nvidia falls 37 percent to $110 by 2027 (it’s about $190 now) and Palantir drops from about $200 to $50. Burry announced his AI prediction in his new Substack Newsletter.
He argues that the AI market has become ‘detached from reality’, comparing it to the dotcom bubble. He also compares Nvidia to Enron, saying the company uses tactics that exaggerate chip life expectancies and accounting to boost profits.
Is he right? Although Burry had bet $700 million on the housing market before the 2008 crisis, many of his predictions over the past fifteen years have not come true.
Read more
Michael Burry, immortalized by Christian Bale in The big short onerevealed bets against Nvidia and Palantir worth about $10 million, The Wall Street Journal reported.
His bet pays off if Nvidia falls 37 percent to $110 by 2027 (it’s about $190 now) and Palantir drops from about $200 to $50. Burry announced his AI prediction in his new Substack Newsletter.
He argues that the AI market has become ‘detached from reality’, comparing it to the dotcom bubble. He also compares Nvidia to Enron, saying the company uses tactics that exaggerate chip life expectancies and accounting to boost profits.
Is he right? Although Burry had bet $700 million on the housing market before the 2008 crisis, many of his predictions over the past fifteen years have not come true.
Read more
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