The man who made a fortune betting against the housing market before it collapsed in 2008 now has his crosshairs trained on the AI boom. Michael Burry disclosed a fresh batch of short positions on June 30, targeting some of the biggest beneficiaries of the artificial intelligence frenzy.
His targets: Tesla at $416.22, Caterpillar at $1,060.98, Applied Materials at $729.40, Nvidia at $198.09, and the iShares Semiconductor ETF (SOXX) at $642.80. In English: Burry is placing real money on the idea that these stocks are going to fall.
The trades and why they matter
He’s not just going after the obvious AI plays like Nvidia and Applied Materials. He’s shorting Caterpillar, a heavy equipment company that most people associate with construction sites, not data centers.
Caterpillar’s stock surged roughly 86% in the first half of the year, riding an AI-driven market rally that lifted companies far beyond the traditional tech sector. Its price-to-sales ratio has hit a 30-year high, according to Burry’s own analysis shared via his Substack.
