Michael Burry, the investor who became a household name for predicting the 2008 housing crash, is now betting against Caterpillar for the first time in his career. The move represents his latest salvo against what he sees as an overheated AI market that has inflated valuations well beyond reason.
“Caterpillar jumped out at me,” Burry said. “I have never shorted Caterpillar.”
CAT shares surged nearly 100% during the 2026 AI rally, peaking near $1,061 before Burry decided to go short.
The broader Burry playbook against AI
Caterpillar isn’t an isolated bet. As of June 30, 2026, Burry has also increased short positions on NVIDIA, Tesla, and Applied Materials.
