Michael Burry's NVDA, PLTR Shorts Are Paying Off—And More Trouble May Be Coming For AI Stocks - Broadcom

Michael Burry’s bet against the AI trade is finally paying off.

A fresh selloff in tech stocks has dragged down two of the three names the “Big Short” investor shorted, just as Wall Street starts to question how long the rally can hold.

Burry’s now-closed fund, Scion Asset Management, revealed put options on Palantir Technologies (NASDAQ:PLTR) and Nvidia (NASDAQ:NVDA) in its final filing last year. He has since said on Substack that he doubled the position and added bearish bets on Oracle (NYSE:ORCL), a semiconductor ETF and the Nasdaq-100.

Palantir has dropped about 32% from where it traded at the end of September. Oracle tells a messier story, cratering from a September peak near 345 to a February low around 135 before clawing back to roughly 205, still well below its high.

Nvidia remains the holdout. The chipmaker trades slightly higher since the filing, and Burry’s puts reportedly run into 2027, so that leg still has runway.