US EditionAlex Karp blasts ‘Big Short’ investor Michael Burry as ‘bats--- crazy’ for bets against Palantir, Nvidia
- On Monday, a regulatory filing showed Michael Burry's Scion Asset Management bought more than $1 billion in put options on Nvidia and Palantir Technologies, including about $187 million on Nvidia and roughly $912 million on Palantir.
- Late last month, Burry warned of a bubble and wrote, `Sometimes, the only winning move is not to play`; debate has intensified in recent weeks over Palantir Technologies trading nearly 250 times forward earnings.
- The firms have been beneficiaries, as Palantir reported a record US$1.18 billion in revenue for the quarter ending September 30, and shares are up more than 170% this year.
- On Tuesday, markets fell with the Nasdaq down 1.5% and Palantir Technologies shares dropping around 6% after a strong quarterly update.
- Nvidia's earlier $5 trillion valuation highlights AI rally concentration as Ted Pick and David Solomon warn of a 10% to 20% drawdown likely in the coming years.
68 Articles
68 Articles
The Big Short Guy Just Bet $1 Billion That the AI Bubble Pops
Michael Burry, who famously shorted the US housing market before its collapse in 2008, has bet over $1 billion that the share prices of AI chipmaker Nvidia and software company Palantir will fall — making a similar play, in other words, on the prediction that the AI industry will collapse. According to the Securities and Exchange Commission filings, his fund, Scion Asset Management, bought $187.6 million in puts on Nvidia and $912 million in put…
Palantir shares drop 8% despite 63% revenue growth as valuation concerns rise.
Technology Stocks To Watch Now – November 3rd
NVIDIA, Meta Platforms, Palantir Technologies, Apple, Microsoft, Advanced Micro Devices, and Alphabet are the seven Technology stocks to watch today, according to MarketBeat’s stock screener tool. Technology stocks are shares of companies that design, manufacture, or deliver technology products and services—such as software, hardware, semiconductors, internet platforms, cloud computing, and cybersecurity. For investors, these stocks are typicall…
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