Burry Openly Strikes Back at NVIDIA, Claiming Their Response Misses the Core Issues
Michael Burry, the protagonist of the film "The Big Short," recently launched a sharp critique against the leading AI industry giant on his newly launched subscription platform. He pointed out that the internal documents released by NVIDIA to analysts did not address his real concerns and instead avoided risk discussions through a "conceptual displacement." Burry expressed his shock at several arguments in the documents, stating that their presentation fell short of the professional standards expected from a globally leading company.
Market analysts believe Burry's public remarks come at a time when AI industry sentiment is particularly high, making his comments especially noteworthy. Known for his contrarian views for years, his skepticism this time has reignited discussions in the investment community about the depreciation methods of chip industry assets.
The Core Dispute Focuses on Depreciation Periods and Equipment Lifespan
Burry explicitly highlighted his genuine concerns about the durability of AI infrastructure and how major tech companies allocate related costs in their financial statements. He warned that if companies exaggerate the actual lifespan of servers, GPUs, and other equipment, it would falsely inflate short-term profits, potentially leading to substantial asset write-downs in the long term.
Citing the recent expansion rate in the industry, he emphasized that if infrastructure construction is based on an immature technology cycle, future depreciation pressure will increase exponentially. He referenced recent public comments by senior tech company executives, noting that the rapid iteration of chips could swiftly devalue current investments in the coming years, forming financial risks.
Industry experts agree that such accounting practices indeed affect long-term profitability metrics, and the shortened update cycle of AI chips complicates the valuation of related assets.
Continuing to Bet on AI Leaders' Downturn, Expanding Short Positions
In his latest article, Burry openly stated for the first time that he still holds put options for NVIDIA and Palantir, indicating his bet that the stock prices of these companies will decline. He further noted that these short positions would be analyzed in more depth in subsequent articles.
Observers believe Burry's renewed public display of his stance serves both as a response to market views and a testament to his confidence in his research conclusions. Although NVIDIA's stock price has performed strongly over the past year, Burry maintains that its valuation does not align with its risks.
Meanwhile, Palantir, drawing attention for its expansion in AI government contracts, is still viewed by Burry as having structural issues within its business model.
Tech Giants' Asset Strategies Spark Industry-Wide Reflection
Burry specifically mentioned that many major tech companies are extending the depreciation cycles of servers and chips to ease short-term cost pressures. This trend is even more prominent as the AI wave drives companies to invest heavily in expanding data centers and computing infrastructure.
He noted that if companies commonly adopt a "life-extension" depreciation method, it might obscure the actual financial pressure, leading investors to misjudge the true cost structure of enterprises.
Some market research organizations also believe that if the future AI chip iteration speed accelerates further, the economic lifespan of existing equipment might be shorter than recorded on paper, posing more severe impairment risks to the industry.
Burry's Perspective May Become a New Focal Point in the AI Industry
As Burry openly states his continued shorting of two prominent AI companies, his perspective will undoubtedly stir more intense discussions in the technology investment circle. In the short term, although market sentiment remains optimistic, debates about depreciation methods, capital expenditure pace, and technology iteration speed are heating up. In the future, the financial transparency of the AI industry will become a key issue closely watched by all parties.
