Overview
- Scion’s Q3 filing shows about $1.1 billion in put options, with roughly $912 million tied to Palantir and about $186.6 million to Nvidia.
- Following the reveal, Palantir fell as much as 16% intraday before closing down around 8%, Nvidia eased 2% to 4%, and the Nasdaq logged its steepest one-day drop in nearly a month at about 2%.
- Palantir CEO Alex Karp blasted the wager as “batshit crazy” after the company beat quarterly estimates and raised guidance.
- Coverage highlights stretched valuations across AI leaders, with Nvidia valued near $4.7 trillion and analysts divided as Loop Capital maintains a $350 price target.
- The move coincided with risk-off trading across U.S., Asian, and European markets as major bank chiefs warned about possible market corrections and Burry criticized “circular financing” in AI supply chains.