Michael Burry Is Super-Bearish On Palantir — With 5 Million Puts

Group 1: Investment Moves by Scion Asset Management - Scion Asset Management, led by billionaire investor Michael Burry, purchased five million put options on Palantir Technologies, Inc. (NASDAQ:PLTR) and one million put options on NVIDIA Corp. (NASDAQ:NVDA) [1] - Burry's bearish position in Palantir has a market value of $912.1 million, while the Nvidia puts are valued at $186.58 million [2] Group 2: Portfolio Adjustments - The updated 13F filing reveals that Scion added 50,000 shares of Lululemon Athletica, Inc. (NASDAQ:LULU), opened a 125,000 share position in Molina Healthcare, Inc. (NYSE:MOH), and a 480,000 share position in SLM Corp. (NASDAQ:SLM) [5] - Additionally, Burry purchased 2.5 million calls on Halliburton Co. (NYSE:HAL) and six million calls on Pfizer, Inc. (NYSE:PFE) [5] Group 3: Closed Positions - Scion Asset Management closed its positions in Estee Lauder Companies, Inc. (NYSE:EL), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), MercadoLibre, Inc. (NASDAQ:MELI), and UnitedHealth Group, Inc. (NYSE:UNH) [6] Group 4: Market Commentary - Burry referenced an AI bubble in a post, comparing Cloud segment growth for major tech companies from 2018 to 2022 with the current period [3] - He shared charts illustrating AI deals among Nvidia, OpenAI, Oracle Corp. (NYSE:ORCL), and others, as well as AI capital expenditures matching the tech spending of the 1999-2000 tech bubble [4]