Michael Burry, the investor who gained fame for predicting the 2008 housing crash, is expanding his short position against Nvidia. His fund Scion Asset Management disclosed put options on Nvidia valued at roughly $186.6 to $187 million in Q3 2025, equivalent to about 1 million shares. Burry has not only increased his bearish bets on Nvidia but also initiated or expanded short positions on Applied Materials, Micron, Tesla, Caterpillar and the iShares Semiconductor ETF (SOXX). His thesis centers on the idea that hyperscalers like Microsoft and Google, which account for roughly 50% of Nvidia’s data-center revenue, have been extending depreciation schedules on their chip infrastructure, creating a gap between accounting reality and economic reality. Nvidia shares have fallen approximately 5% since the initial short announcement in November 2025.
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