Michael Burry has accelerated his timeline for an AI market correction, now expecting it to occur within one year. The contrarian investor has replaced his short positions with put options on Micron Technology, Nebius Group, and the SOXX semiconductor ETF, with expirations set for mid and late 2027. His Micron puts carry strike prices around $500, while SOXX puts are set in the low $400s. Burry cited a report from Ares Management highlighting excessive debt-financed capital expenditure on data infrastructure as a key reason for his increased confidence. He also referenced Acer’s CEO regarding memory supply reaching equilibrium, a factor directly relevant to Micron’s exposure to memory pricing.
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