Nvidia(US:NVDA) 智通财经网·2025-11-24 05:47Core Viewpoint - Nvidia reported third-quarter results that significantly exceeded market expectations in terms of revenue, profit, and outlook for the next quarter, while CEO Jensen Huang dismissed the "AI bubble" narrative [1] Group 1: Nvidia's Performance - Nvidia's third-quarter revenue and profit were notably higher than market forecasts, leading to investor optimism [1] - CEO Jensen Huang defended the company's position against claims of an AI bubble [1] Group 2: Criticism from Michael Burry - Michael Burry expressed skepticism about Nvidia's third-quarter performance, suggesting that the company's accounting practices may misrepresent profitability [1] - Burry criticized the notion that longer GPU lifespans justify extended depreciation periods, arguing that usage does not equate to profitability [1] - He provided an analogy involving airlines retaining old planes to illustrate that increased usage does not guarantee financial success [1] Group 3: AI Demand Concerns - Burry warned that the actual end-user demand for AI is significantly lower than reported by major tech companies [2] - He accused several companies, including Microsoft and Nvidia, of questionable revenue recognition practices, implying that reported growth may not reflect true market demand [2] - Burry characterized the funding for AI growth as largely coming from dealers, creating a self-reinforcing cycle rather than sustainable adoption [2] Group 4: Burry's Investment Strategy - Michael Burry is known for his contrarian investment approach and has previously achieved significant profits by shorting the market during the 2008 financial crisis [3] - After a period of absence from the public eye, Burry returned to express concerns about AI-driven market valuations and disclosed short positions in Nvidia and Palantir [3] - Recently, Burry announced the liquidation of his fund and withdrew registration from the SEC, hinting at a potential transition to a family office structure [3]