Big Short fame Michael Burry is betting against Nvidia, AMD, Micron and other chipmakers. Is a massive AI crash coming?

Michael Burry has refreshed his short position in the iShares Semiconductor ETF, betting against AI-linked chipmakers including Nvidia, AMD, Micron, Broadcom and Intel. He has previously placed bearish bets on Tesla, Palantir, Applied Materials and others, warning that massive venture capital flows, rising AI debt issuance and extreme market optimism mirror late-1999 Dotcom conditions. Adding to the bearish signals, South Korea's Kospi has entered bear market territory, plunging 20% from its peak of 9,386, though it remains the world's best-performing major index in 2026 with a 74% year-to-date gain driven by AI-linked semiconductor stocks.