Michael Burry sends another Nvidia stock verdict to investors

Michael Burry has been betting against Nvidia, but added call options on December Nvidia stock with strikes set in the mid-to-high $200s ahead of the company's earnings. This move, seen as a reversal by many on Wall Street, was made due to Burry's broader AI skepticism and not purely Nvidia-specific. Burry emphasized that he wasn't seeking gains from this trade, but rather a hedge against the stock.

Nvidia announced a deal that changed the AI race, leading to a surge in its stock price. Burry also increased short positions in Oracle, Palantir, and Nebius, and added to long positions in Birkenstock and Freddie Mac. Nvidia's earnings beat estimates and reported significant revenue growth, causing its stock to surge. Despite this, Burry remains skeptical about Nvidia's capital returns and investment in the top of the bubble.