00:00It's Benzinga bringing Wall Street to Main Street
00:02Michael Burry is moving up the timeline for his bearish thesis on the artificial intelligence
00:06boom, shifting from short positions to put options for more leverage over a shorter period,
00:11according to CNBC.
00:12Burry said some of his moves were aimed at reducing his tax liability, but most reflected
00:17his belief that the AI bubble could burst sooner rather than later, potentially reversing
00:21the trade by next summer.
00:22He replaced shorts on Micron, Nebius, and the iShares Semiconductor ETF with puts and
00:28enlarged his Palantir Put position.
00:30Burry cited research from Aries Management warning that disappointing AI revenue could
00:34prompt companies to rethink capital spending.
00:36He also pointed to Acer's CEO Jason Chen's comments that rising Chinese production capacity
00:42could bring cyclicality back to the memory chip sector.
00:45Burry has remained bearish even as stocks reached new highs, comparing the market in May to
00:49the final months of the 1999-2000 bubble.
00:52The Nasdaq closed at a record last week.
00:55For all things money, visit Benzinga.com
00:58State Department of style
00:58These Hoosier
00:58Fucking
00:58those
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