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A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.

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Michael Burry (The Big Short) is betting against the AI Bubble (www.ctvnews.ca)

submitted 2 weeks ago by LoveCanada@lemmy.ca to c/fuck_ai@lemmy.world

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Burry’s fund, Scion Asset Management, disclosed on Monday that it bought puts — bets that share prices will fall — on two stars of the AI wave: Nvidia and Palantir. Scion bought roughly US$187.6 million in puts on Nvidia and $912 million in puts on Palantir, according to Securities and Exchange Commission filings.

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[–] TachyonTele@piefed.social 16 points 2 weeks ago (1 children)

I definitely trust Burry on this. I'm excited to see the bubble finally blow up.

[–] Voroxpete@sh.itjust.works 22 points 2 weeks ago (1 children)

Just keep in mind that even if Burry is right - and he's not always - he was three years early on the housing crisis. Personally, I fully agree that this is a bubble, but that doesn't mean it's going to break soon.

Markets can remain irrational longer than you can remain solvent.

[–] TachyonTele@piefed.social 13 points 2 weeks ago

That's good point. Thank you for the temperance.