Michael Burry Cites 'Beginning of the End' With New AI Short Bets; Caterpillar Slips
- 'Big Short' investor Michael Burry disclosed fresh short positions via his Substack on June 30, targeting what he calls an inflated AI and semiconductor bubble; the WSJ reports the bets as 'Beginning of the End' (https://www.wsj.com/finance/stocks/michael-burry-cites-beginning-of-the-end-with-new-ai-short-bets-50793c12).
- New shorts include Caterpillar (first time, citing a 30-year high price-to-sales ratio on AI data-center optimism), Tesla, Nvidia, Applied Materials, and the iShares Semiconductor ETF (SOXX).
- Bloomberg says the disclosure 'dents Caterpillar's AI-fueled rally' — CAT shares sold off intraday while the broader market digested the high-profile bearish call.