By Emily Southard-Bond
Publication Date: 2026-08-21 12:05:00
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Michael Burry, the US investor who predicted the 2008 housing crash and was depicted in the film The Big Short, is warning that Nvidia’s latest $500 billion AI funding deal could be another Enron disaster.
Burry deregistered his hedge fund, Scion Asset Management LLC, in 2025 with plans to focus on his own personal finances. Since then, Burry has posted on Substack under “Cassandra Unchained (1)” — a prophetess who was routinely ignored.
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The investor frequently shares market analysis and investment projections while commenting on controversial deals — usually pertaining to AI companies.
And, despite taking aim at Nvidia, they’re far from the only company Burry is betting against.
Is Nvidia’s AI Push the Next Enron?
In a recent Substack post, Burry analyzed Nvidia’s new $500 billion funding deal and claimed the chip giant is engaged in “circular” financing through agreements with six Wall Street giants, including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR.
He isn’t the first to take aim at AI’s “circular financing.” Bloomberg has previously reported on the practice (2), and its dangers, as more and more capital is circulated among some of America’s top companies.
Burry notes that…
