In the film The Big Short, whose original investors inspired the movie, investor Michael Burry has again increased his short positions in Nvidia, Micron Technology, and the Philadelphia Semiconductor Index ETF, while maintaining short positions in Tesla and Palantir and holding put options on the Nasdaq 100 Index ETF. Looking back, in early July Michael Burry had said that he had shorted Micron Technology stock at a price of 1051.87 dollars per share. At that time he had warned that the US semiconductor stock market sector might face a fall of about 30 percent.

Market-level, US stocks in the semiconductor, storage, and optical communication concepts experienced a sharp sell-off on Friday, July 24, as the Philadelphia Semiconductor Index fell by more than 4 percent, while SanDisk dropped by more than 10 percent and SK Hynix ADR by more than 8 percent. In its latest report, Moody's International Credit Rating Agency warned that the AI infrastructure construction competition, which consumes nearly one trillion US dollars each year, is eroding the free cash flow of leading hyperscale cloud service providers.

“大空头”加倍做空

Michael Burry, a Wall Street bear, has recently released an article indicating that he is doubling his short positions in the AI chip sector. This not only increases the size of his positions but also upgrades his bearish stance. After shorting Micron Technology for the first time in early July, he has recently further increased his short position sizes in Nvidia and the Philadelphia Semiconductor Index ETF, while expanding his short-selling range to Caterpillar, with his short positions in semiconductors now merged into a large position in the portfolio.

In more detail, Michael Burry has further shorted Micron Technology at the price of 933.86 dollars per share, increased his short positions in Nvidia at the price of 210.28 dollars per share, and added to his short positions in the Philadelphia Semiconductor Index ETF at a price of 535.83 dollars.

Michael Burry explained that the demand for Nvidia is not driven by actual end customers but by financing arrangements that exist off the balance sheet and are not disclosed. A large part of future revenue is financed through repeated arrangements. This view is supported by the 2026 Annual Report of the Bank for International Settlements.

Michael Burry's bearish view of the AI-related sectors is based on his questioning of the true reality of industry demand. He believes that in the current AI infrastructure investment boom, much of the capital expenditure does not correspond to real terminal demand, but instead creates a self-reinforcing cycle through opaque financing structures with the risk of systematic overvaluation.

Michael Burry expects the US semiconductor sector to face a potential fall of about 30 percent and views the capital expenditure expansion plans of Samsung Electronics and SK Hynix as the beginning of the industry prosperity cycle turning to decline.

Michael Burry indicated that his short position in Tesla remains open. At the same time he continued his short position in Palantir and maintained put options on the QQQ Invesco Nasdaq 100 Index ETF to indicate that his bearish stance toward the overall technology sector had not loosened.

In shorting AI while Michael Burry redirects long capital to consumption and healthcare sectors correlated with lower technological trends this reflects his overall assessment of the current market structure.

Michael Burry bought a substantial quantity of Flutter Entertainment at a price of 100.72 dollars per share and also acquired DraftKings at a price of 23.07 dollars per share. He further increased his holdings in Molina Healthcare at a price of 197.02 dollars per share.

美股半导体板块遭遇猛烈抛售

美东时间7月24日美股芯片股全线大跌截至收盘费城半导体指数大跌超4% 30只成份股全部收跌 Arm大跌超8% 英特尔大跌超7% 美光科技跌超6% 应用材料泛林集团跌超4% 安森美半导体AMD跌超3% 台积电ADR阿斯麦ADR跌超2%

In the storage sector, a collective sell-off occurred on July 24, 2026, during US market hours, with the Roundhill storage ETF falling more than 8 percent, SanDisk dropping more than 10 percent, SK Hynix ADR dropping more than 8 percent, while Micron Technology, Western Digital, and Seagate Technologies each declined more than 6 percent.

穆迪国际信用评级机构警告称，AI基础设施建设竞赛每年耗资近万亿美元，这场竞赛正在侵蚀超大规模云服务商的自由现金流，增加了他们的资产负债表风险。

In the research report released by Moody's last week, it pointed out that the AI investment boom is forcing companies with abundant cash reserves globally such as Google and Microsoft to rely heavily on debt financing, equity financing, and off-balance-sheet financing in order to support their ambitious AI expansion plans.

报告指出，过去这些公司主要依赖于以软件、知识产权以及可扩展云服务为核心的轻资产运营模式，在此模式下只需投入相对有限的资本即可维持运转。如今随着从轻资产向重资产模式的转变逐步推进，这一过程需要前所未有的投资规模以及相应的融资需求。

According to Moody's data, the direct debt scale of the six hyperscale cloud service providers (Microsoft, Amazon, Google, Meta, Oracle and CoreWeave) has now reached about 460 billion US dollars.

（文章来源：券商中国）

来源：突然加倍做空！华尔街“大空头”再出手！AI“狼来了”这次是真的吗？ | 东方财富网