Michael Burry Called Nvidia’s $95 Billion in Purchase Obligations ‘Troubling’ in February. Six Months Later, the Filings Show That Number Ballooned to $279 Billion.

In February of 2026, investor Michael Burry expressed concern over Nvidia's $95.2 billion purchase obligations outlined in the company's fiscal 2026 annual report. Six months later, the figure had increased dramatically to $279 billion, according to filings. Purchase obligations represent promises to buy, and Nvidia's large-scale commitments indicate significant risk, according to Burry.

The company's revenue has been soaring, with a 106% increase in the second quarter compared to the same period last year. Nvidia CEO Jensen Huang has maintained that AI is incredibly profitable and refuted Burry's concerns. However, the question remains whether Nvidia's revenue growth can outpace its commitment to supply, and whether the outstanding $92 billion in commitments will be converted into shipped products or remain as inventory.