Michael Burry unnerved investors this week with seemingly fresh wagers against artificial intelligence favorites Nvidia and Palantir Technologies . However, despite the splash his disclosure made, the famed "Big Short" investor is likely sitting on losses from those bearish bets. Burry's hedge fund, Scion Asset Management, held about 50,000 put contracts on Palantir and 10,000 on Nvidia at the end of the third quarter, according to a regulatory filing. The news exacerbated a sell-off in AI names Tuesday as investor concerns about sky-high valuations deepened. The disclosure also prompted a sharp reaction from Palantir CEO Alex Karp, who called Burry's wagers "super weird" and "batsh-- crazy." Still, market veteran and co-founder of Market Rebellion Jon Najarian believes Burry's trades are
Michael Burry's new short bets spook market and anger Palantir CEO, but his trade is likely underwater
CNBC Investing1 hrs ago
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