Michael Burry, the hedge fund manager made famous by his prescient bet against the US housing market ahead of the 2008 financial crisis, has exited his position in GameStop (NYSE: GME) and significantly escalated his bearish bets against some of the most prominent names in artificial intelligence and technology, in what is rapidly being dubbed “The Big Short 2.0.”
Burry disclosed the moves in a post on his Substack platform published on Monday, marking his most comprehensive public portfolio update since he pivoted from running Scion Asset Management to writing online commentary late last year. “I sold my entire GME position,” he wrote, describing it as the first full exit he had made since that pivot. He explained that GameStop’s proposed deal with eBay no longer fit the “Instant Berkshire” investment thesis he had built around the retailer under CEO Ryan Cohen, citing concerns about leverage and the assumptions underlying the acquisition strategy.
The more significant disclosures concerned his short book. Burry confirmed he has opened an outright short position in Palantir Technologies (NASDAQ: PLTR) ahead of its Monday earnings release, stating bluntly that he views Palantir as worth “low double digits at best” and that he is not just shorting the valuation but the business model itself. He also added to existing bearish put option positions on the iShares Semiconductor ETF (SOXX), the Invesco QQQ Trust (QQQ), Nvidia (NASDAQ: NVDA), and Oracle (NYSE: ORCL).
Across his entire portfolio, Burry’s puts on SOXX, QQQ, PLTR, NVDA, and ORCL now represent approximately 7% of his holdings, while outright short positions in PLTR and Tesla (NASDAQ: TSLA) account for a further 2.5%. The strike prices on his newly purchased put options were described as sitting well below prevailing market prices, with expirations extending into spring 2027, signalling an expectation that the decline he anticipates will take time to materialise.
Burry’s positioning on Palantir has partial precedent. He first disclosed significant put positions on PLTR in Q3 2025 through his final 13F filing before winding down Scion Asset Management. That trade has since generated paper gains, with PLTR shares declining roughly 35% from their November 2025 peak above $207. Burry has posted technical analysis suggesting the stock could ultimately fall to between $46 and $50 per share, a level well below even the most bearish analyst price target currently on the street.
The Nvidia short, by contrast, has been less profitable to date. His put positions on NVDA with a $110 strike expiring December 2027 remain underwater given the stock’s recovery in 2026, though the position size relative to the portfolio suggests he is maintaining conviction through the pain.
