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Michael Burry Doubles Down on AI Short, Calls Korean Chip Investment 'Beginning of the End'

AirdropBlackHole
On July 2, Michael Burry has further intensified his bearish strategy surrounding the artificial intelligence sector. According to The Wall Street Journal, his latest disclosed short positions cover several key areas, including Tesla (TSLA), Caterpillar (CAT), Applied Materials (AMAT), and an exchange-traded fund (ETF) tracking chip manufacturers. As one of the prototypes of Michael Lewis's 'The Big Short,' Burry has maintained a systematic bet against the AI boom for several months, based on the logic that asset prices will undergo significant adjustments after the industry's hype subsides. This series of actions comes at a sensitive time for the AI industry. On one hand, the U.S. government has intervened in the release of Anthropic's Mythos-level model citing national security; on the other hand, the 'price shock' brought about by AI applications is prompting companies like Microsoft (MSFT) to introduce lower-cost alternatives, leading to a rebalancing of industry business models. The large-scale investment plans by South Korean companies further reinforce Burry's skepticism. Earlier this week, Samsung Electronics and SK Hynix announced they would invest over $500 billion to build a chip industry cluster. Following this announcement, chip stocks briefly led the Nasdaq index the next day. In response, Burry stated on his Substack, 'The direct reason for the rebound is the massive spending announced by South Korea,' adding, 'Well, I think that is the beginning of the end.' He thus questions whether the ongoing capital investments in the AI sector can translate into corresponding returns.
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