Famed Investor Michael Burry Bets Against Nvidia and Palantir to the Tune of $1.1 billion. Is He Right?

Is there an artificial intelligence (AI) bubble? Is it about to burst? It appears that famed investor Michael Burry thinks so.Burry, who became famous as the subject of the Michael Lewis book and subsequent movie The Big Short about his shorting the market before the 2007-09 mortgage crisis, has some new shorts in mind. He purchased put options in Nvidia (NASDAQ: NVDA) and Palantir Technologies (NASDAQ: PLTR), which implies he thinks that their prices will drop.Is this move as contrarian as it sounds? Burry successfully employed this strategy in the past, making millions for his hedge fund customers. Could he be right this time, too? And what should investors do about this news?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool