The Zhitong Finance App learned that Michael Burry, a well-known skeptic of Nvidia (NVDA.US) and the broader AI infrastructure boom, once again criticized the chip maker and compared CEO Hwang In-hoon to Palantir CEO Alex Karp. The prototype character in the movie “The Big Short” is famous for accurately predicting the 2008 subprime mortgage crisis. Currently, Hwang In-hoon is being intensively interviewed by the media. Bury holds Nvidia put options and can profit if the stock price falls.
Late Monday, in a chat post on its Substack page, a user commented on Hwang In-hoon's recent media appearances. “He's becoming a bit like Karp in this regard,” Barry replied.
Karp often appears in TV interviews to discuss AI, Palantir, and the broader tech industry. At the time of Hwang In-hoon's media campaign, some investors are raising concerns about Nvidia's valuation and the AI industry's so-called revolving financing.
Nvidia's $150 billion repurchase plan draws attention
At the time of Berry's comments, Nvidia is ramping up its share repurchase plan. The company's board of directors approved an additional $150 billion in share repurchase authorizations on Monday, bringing the total remaining authorized size to $235 billion.
Nvidia expects to implement the plan by fiscal year 2028. The company claims that this increase is the largest increase in stock repurchase authorization in history. Previously, Nvidia approved a $80 billion repurchase authorization in May. In the first half of fiscal year 2027 alone, Nvidia bought back $39.8 billion of shares, according to the latest documents.
In Bury's chat group, a user questioned the rationality of buying back stocks during what he described as “crazy market conditions,” and believes that when stocks are highly valued, management should keep cash; when stock prices are undervalued, they should invest more actively.
Barry generally agreed with this view, but he said, “Yes, this practice is currently more common overseas than in the US. In the US, it seems to be common practice to buy back shares at any level.”
An outspoken critic
Bury has always been a skeptic of Nvidia and the broader AI deal. He has repeatedly questioned AI investment logic and believes that huge capital expenditure may not necessarily translate into sustainable returns. He has repeatedly warned of surges in AI spending and similar “bubbles” with high valuations, questioned the sustainability of large-scale AI infrastructure investments, expressed concern about aggressive corporate spending on Nvidia GPUs, and criticized the market's fanaticism for AI-driven growth.
Bury began shorting US AI stocks with a nominal value of about 1.1 billion US dollars in the third quarter of 2025 with Nvidia (NVDA.US) and Palantir (PLTR.US) put options. In 2026, it expanded to a full-chain bear network covering semiconductors, storage, and AI infrastructure, including bearish bets on Micron Technology (MU.US), Oracle (ORCL.US), Nebius (NBIS.US), and iShares Semiconductor ETF (SOXX).
Recently, Berry Ping dropped one-sided short positions on Nvidia, Palantir, Micron, Nebius, and other AI-related stocks, replacing many of them with put options due in 2027.
He said the new research prompted him to advance the bearish timeline, and “most” of the position adjustments stemmed from his belief that the AI bubble might burst “sooner than expected.”
Recently, Barry mentioned that today's success in the artificial intelligence (AI) industry is as important to the US government as the tech giants driving this boom. He believes that although he is still bearish on several companies at the core of AI transactions, AI infrastructure construction has become a key force supporting the US economy.
On Stocktwits, retail sentiment towards Nvidia remains in the “bearish” range, the same as last week, while some users discussed the latest repurchase authorization.
One trader wrote, “There is so much good news from Nvidia that it's impossible to say that the stock price hasn't risen sharply recently.” Another said, “If Nvidia can go up today, I should be content. This is exciting news. Keep holding it.”
By the last close, Nvidia shares were up 23% year to date.