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00:02Michael Burry said Tuesday he shorted Caterpillar at $1,060.98,
00:07calling the construction equipment maker one of the market's most overvalued beneficiaries of
00:12the artificial intelligence investment boom, according to CNBC. Burry also disclosed bearish
00:18positions in NVIDIA, Applied Materials, Tesla, and the iShares semiconductor, ASTF, as he warned
00:24that the rally in AI-linked stocks has become overextended. Caterpillar shares gained 86%
00:31in the first half of 2026, as investors treated the company as a proxy for the global AI infrastructure
00:37build-out. Burry said Caterpillar's price-to-sales ratio has climbed to its highest level in at least
00:44three decades. He also said the Philadelphia Semiconductor Index is trading about 65%
00:49above its 200-day moving average, a level he said was last reached during the dot-com bubble.
00:56For all things money, visit Benzinga.com.
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