Michael Burry Places $1.1 Billion Bet Against Nvidia and Palantir Through Put Options
Summary
Michael Burry's hedge fund places massive $1.1 billion bet against AI giants Nvidia and Palantir through put options, wagering their stock prices will fall in the near term despite the companies' strong AI market positions.
Key Points
- Michael Burry's Scion Asset Management holds $1.1 billion in put options against Nvidia and Palantir stocks, betting their prices will decline in the short term
- The put options represent a tactical hedge fund strategy to profit from near-term price movements rather than a long-term bearish stance on the AI companies
- Burry's portfolio changes frequently with only one position remaining from the previous quarter, suggesting these bets may be temporary trading moves rather than fundamental investment decisions