Michael Burry, the contrarian investor whose early bet against US subprime mortgages became the focus of The Big Short, has taken one of the most aggressive positions yet against the current AI frenzy. Recent regulatory filings show Scion Asset Management built large put-option exposures on Nvidia and Palantir -- more than $1.1 billion in notional terms -- before the firm deregistered from the SEC, ending its obligation to disclose positions.

While 13F filings do not reveal the actual amount of capital deployed, they make one point unambiguous: Burry is positioned against the AI trade at a moment when much of the market is leaning the other way.

A warning on accounting and inflated optimism

Burry has argued that Wall Street is underestimating the extent to which reported profits in AI-h

See Full Page