Burry Discloses SOXX Short Targeting Nvidia on AI Spending Fears

On July 7 Michael Burry disclosed a short position in the iShares Semiconductor ETF (SOXX), extending his June 30 bets against Nvidia, Micron and AMD. The move highlights concerns that AI infrastructure spending has outrun fundamentals, with SOXX trading at a 74.3 P/E—more than double the Nasdaq-100—and a UBS survey showing 60% of firms curbing AI budgets. Earlier July 5 reports had already flagged Burry’s individual shorts and noted Micron’s revenue surge to $41.5 billion alongside Tesla’s 350-times earnings multiple, framing the disclosures as a valuation stress test for the AI trade.