Michael Burry, of “Big Short” fame, discloses options bets against Nvidia and Palantir
“The Big Short” investor Michael Burry, famous for predicting the 2008 housing crash — and a number of crashes since that haven’t materialized quite as spectacularly — has placed massive bets against Nvidia and Palantir, according to a regulatory filing for the quarter ended September 30.
The 13-F filing released Monday discloses that Burry’s fund, Scion Asset Management, bought put options on roughly 5 million Palantir shares and 1 million Nvidia shares. The notional value of the underlying shares was $912 million and $187 million, respectively. The 13F filings do not reveal the salient details of the options contracts (each of which gives the holder the right to sell 100 shares) such as their strike price, expiry, or what was paid for them.
Burry’s move follows a surge in both stocks amid record AI enthusiasm and rising tech valuations: Nvidia jumped 50% this year and crossed the $5 trillion mark in market cap for the first time, while Palantir is up a whopping 176% on the year, with the company just posting its ninth straight earnings beat and raising full-year revenue guidance to nearly $4.4 billion.
Burry’s bets, as well as wider concerns about the company’s stretched valuation, appear to be weighing on Palantir, which has gone into reverse since posting its numbers and is now trading 6.86% lower as of 10:03 a.m. ET on Tuesday.
Nvidia was 1.8% lower as of 10:03 a.m. ET.
Last week, Burry warned of market “bubbles” on X, writing that “sometimes the only winning move is not to play.” Scion also disclosed call options on Pfizer and Halliburton, alongside holdings in Lululemon, Bruker, Molina Healthcare, and Sallie Mae.
Note: An earlier version of this article incorrectly characterized the value of the underlying shares as the total “bet size” — this has been corrected on November 13, 2025.
The 13-F filing released Monday discloses that Burry’s fund, Scion Asset Management, bought put options on roughly 5 million Palantir shares and 1 million Nvidia shares. The notional value of the underlying shares was $912 million and $187 million, respectively. The 13F filings do not reveal the salient details of the options contracts (each of which gives the holder the right to sell 100 shares) such as their strike price, expiry, or what was paid for them.
Burry’s move follows a surge in both stocks amid record AI enthusiasm and rising tech valuations: Nvidia jumped 50% this year and crossed the $5 trillion mark in market cap for the first time, while Palantir is up a whopping 176% on the year, with the company just posting its ninth straight earnings beat and raising full-year revenue guidance to nearly $4.4 billion.
Burry’s bets, as well as wider concerns about the company’s stretched valuation, appear to be weighing on Palantir, which has gone into reverse since posting its numbers and is now trading 6.86% lower as of 10:03 a.m. ET on Tuesday.
Nvidia was 1.8% lower as of 10:03 a.m. ET.
Last week, Burry warned of market “bubbles” on X, writing that “sometimes the only winning move is not to play.” Scion also disclosed call options on Pfizer and Halliburton, alongside holdings in Lululemon, Bruker, Molina Healthcare, and Sallie Mae.
Note: An earlier version of this article incorrectly characterized the value of the underlying shares as the total “bet size” — this has been corrected on November 13, 2025.
