Michael Burry of The Big Short fame (he was the one played by Christian Bale) has given another warning linked to his £840 million bet on something happening which could seriously dent the world economy.
Last year he put on a big bet that there was an artificial intelligence bubble in the market and he reckoned it was going to burst, so he placed an £840 million bet against software company Palantir and chipmaker Nvidia which both work heavily with AI.
Burry previously warned that OpenAI was ‘doomed and haemorrhaging cash’, saying even billions worth of investment into it wouldn’t be enough to keep things going, and the warnings have continued.
In a Substack post from a couple of days ago (26 February) Burry claimed activity from Nvidia looked to him like the way Cisco Systems was behaving just before the dot-com bubble burst.
He said the company’s purchase obligations were at $95.2…
