A new regulatory filing shows that billionaire investor Michael Burry's hedge fund Scion Asset Management purchased five million put options on Palantir Technologies, Inc. (NASDAQ:PLTR) and one million put options on NVIDIA Corp. (NASDAQ:NVDA), among other changes to its portfolio.
- PLTR stock is at all-time highs. See the details here.
Bearish on PLTR, NVDA
Burry's massive bearish position in Palantir has a market value of $912.1 million and the Nvidia puts are worth $186.58 million, according to Whale Wisdom.
Read Next: Top Stocks With Earnings This Week: Joby, IonQ, AMD and More
Burry also returned to X with a post referencing an AI bubble and Star Wars.
"These aren't the charts you are looking for. You can go about your business," Burry said in the post.
The charts he posted compare Cloud segment growth for Alphabet, Amazon and Microsoft in 2018 through 2022 with the present period.
Another chart shows the web of AI deals between Nvidia, OpenAI, Oracle Corp. (NYSE:ORCL) and other big tech companies, and a third chart shows AI capex matching the tech spending of the 1999-2000 tech bubble.
Additional Holdings Updates
Scion's updated 13F also shows that the firm added 50,000 shares of Lululemon Athletica, Inc. (NASDAQ:LULU), opened a 125,000 share position in Molina Healthcare, Inc. (NYSE:MOH) and a 480,000 share position in SLM Corp. (NASDAQ:SLM).
He also purchased 2.5 million calls on Halliburton Co. (NYSE:HAL) and six million calls on Pfizer, Inc. (NYSE:PFE).
Burry's firm closed its positions in Estee Lauder Companies, Inc. (NYSE:EL), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), MercadoLibre, Inc. (NASDAQ:MELI) and UnitedHealth Group, Inc. (NYSE:UNH).
Read Next:
- IREN, Cipher Bag Billion-Dollar AI Deals: Which Company Is Next?
Photo: Shutterstock
