Michael Burry has moved to close Scion Asset Management while also revealing bearish positions against NVIDIA Corporation (NASDAQ:NVDA) and Palantir Technologies Inc (NYSE:PLTR). A letter dated October 27 confirmed his plan to wind down the firm, citing a disconnect between his valuation approach and current market conditions. The SEC deregistration became effective on November 10, ending Scion’s status as a registered investment adviser and reducing the public visibility of Burry’s future trades.
Alongside the shutdown, Scion’s latest regulatory filing disclosed put options tied to Nvidia Corporation and Palantir Technologies, signalling a negative view on two of the most prominent companies in the artificial intelligence and data analytics space. Burry clarified that the cost of his Palantir position was about 9.2 million dollars for roughly fifty thousand contracts, far below the notional figures circulating in earlier reports.
These combined developments have renewed attention on Burry’s market outlook. The closure of Scion introduces uncertainty about his next steps, since regulatory filings will no longer provide regular insight into his positions. His bearish stance on Nvidia and Palantir also raises questions about whether the intense enthusiasm for AI linked companies has pushed valuations too far.
The investment community is now assessing how Burry’s exit from public fund management and his new wagers may influence sentiment. Nvidia and Palantir have both experienced rapid appreciation driven by strong demand for AI infrastructure and data integration tools, and Burry’s trades may amplify volatility as investors reexamine growth expectations.
As markets process these moves, attention will turn to future communication from Burry about his plans after Scion, as well as to forthcoming earnings reports from Nvidia and Palantir. Any updates on their financial performance or guidance will help clarify whether his bearish convictions align with underlying fundamentals.