Big Short Investor Warns of a New ‘Cisco’

Michael Burry, the investor made famous by The Big Short for predicting the 2008 housing crash, has shuttered his hedge fund and debuted a paid Substack newsletter. Burry, a noted skeptic of the current AI frenzy, used his new platform to go after Nvidia and the broader tech boom, drawing parallels to the excesses of the dot-com era, Reuters reports. Burry argues that the current wave of spending on AI infrastructure—nearly $3 trillion over the next three years, driven by giants like Microsoft, Google, Meta, Amazon, and Oracle—shows all the hallmarks of a bubble.