Michael Burry says he’s shorting Oracle and Nebius, two companies that are betting big on the AI boom.
The investor of “The Big Short” fame said in a Substack post on Thursday that while researching the fourth part of a series titled “The Heretic’s Guide to AI’s Stars,” he’d shorted the two stocks “because my work just wouldn’t let me continue without doing so.”
Writing broadly about AI companies, Burry compared them to fish in a barrel.
“The fish have gorged themselves on off-balance sheet liabilities. Backstops. Uncommenced leases. Purchase commitments,” he wrote. “The fish have gotten very fat, very large, easy to shoot.”
“Also, so large that…
