Nebius Jumps 20% Days After Michael Burry Said His AI Shorts Were Like ‘Shooting Fish in a Barrel’ Nebius

Nebius Group N.V.

(NASDAQ:NBIS) shares jumped over 20% Wednesday, days after Michael Burry disclosed a short position, as the AI infrastructure company said the expected payback period on its latest deals had fallen below two years.

Nebius now expects to recoup the capex and related operating costs on its second-quarter deals in one year and 10 months, down from its previous range of two to three years.

Burry disclosed short positions in Nebius at $211.77 and Oracle Corp.

(NYSE:ORCL), saying the two trades felt "a bit like shooting fish in a barrel." Burry's concern with the AI buildout comes down largely to the returns on enormous capital spending: billions are going into chips and data centers today, with uncertainty over how much those assets will ultimately earn.