Burry Widens Nvidia Attack, Calls AI Spending 'Fugazi' as NVDA Falls 3.6%

Michael Burry expanded his critique on June 2, labeling Nvidia’s entire AI boom “Fugazi” and alleging tens of billions of GPUs are concealed through layered SPV financing. The comments follow his June 1 attack on a specific $5.4 billion GB200 sale-and-leaseback to Valor Compute Infrastructure, which was financed with $3.5 billion of Apollo debt and $1.9 billion of Nvidia equity. Burry further accused Nvidia of blocking AMD from a major deal and said a DOJ probe has run nearly two years, adding regulatory and reputational pressure on NVDA shares and sector financing structures.