Michael Burry (Trades, Portfolio) has increased his bearish bets against several major chip stocks while keeping his existing short positions in Tesla NASDAQ:TSLA and Palantir NASDAQ:PLTR.
The Big Short investor said he sold short additional shares of Micron NASDAQ:MU at $933.86 and added to his Nvidia NASDAQ:NVDA short at $210.28. He also expanded a large bearish position in the iShares Semiconductor ETF, which includes both short stock and put options.
Burry's latest moves suggest he believes the semiconductor rally has gone too far. Micron has surged nearly 222% this year, while Nvidia is up about 11%, leaving both stocks vulnerable if AI spending slows or valuations come under pressure.
He also added to a short position in Caterpillar while increasing long exposure to Flutter and DraftKings. His bearish bets against Tesla and Palantir remain open, with Burry saying his Tesla position is becoming smaller as the stock falls.