"The Big Short" investor Michael Burry, a vocal skeptic of the current AI boom, took aim at Nvidia as he launched a paid Substack newsletter focused on financial markets, days after shutting down his hedge fund.
Burry, who shot to fame for betting against the U.S. housing market ahead of the 2008 financial crisis, is widely watched for his comments on markets and the economy. His bets have long been dissected by traders for clues on looming bubbles and signs of market froth.
"I am not retired," Burry wrote on Substack, adding that the blog titled Cassandra Unchained had his "full attention."
The newsletter currently has more than 21,000 subscribers and costs $39 per month. He hinted at a publication schedule of generally one or more pieces most weeks.
In his post titled "Foundations: My 1999 (and part of 2000)," Burry discusses his early interests and how he started trading.
He compares the recent AI boom to the 1990s dot-com era in another post titled "The Cardinal Sign of a Bubble: Supply-Side Gluttony." The investor said he would continue writing about his findings in upcoming posts.
"The five public horseman of today's AI boom - Microsoft, Google, Meta, Amazon and Oracle - are joined by several adolescent startups in promising nearly $3 trillion in spending on AI infrastructure over the next 3 years. Investors absolutely love it," he wrote.
"And once again there is a Cisco at the center of it all, with the picks and shovels for all and the expansive vision to go with it. Its name is Nvidia."
Burry recently stepped up criticism of technology heavyweights, including Nvidia (NVDA.O), opens new tab and Palantir Technologies , questioned the cloud infrastructure boom and accused major providers of using aggressive accounting to inflate profits from their massive hardware investments.
Earlier this month, Burry closed Scion Asset Management and returned capital to investors.
He said managing money professionally came with regulatory and compliance constraints that "effectively muzzled" his ability to communicate, leading to misunderstandings around his SEC filings that sparked market turmoil and heated debates that he never intended.
Burry did not immediately respond to a Reuters request for comment. Burry's short position against subprime mortgage securities during the housing market crash was chronicled in Michael Lewis's book "The Big Short" and its film adaptation.
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