Overview
- Regulatory filings for Sept. 30 show Scion Asset Management held put options equivalent to roughly 5 million Palantir shares (~$912 million notional) and 1 million Nvidia shares (~$187 million).
- Palantir dropped as much as about 7–10% in early trading and Nvidia slipped roughly 2–3% after the disclosure and coverage of the positions.
- Palantir CEO Alex Karp blasted the bearish bets in a CNBC interview, calling shorting companies like Palantir and Nvidia “egregious” and “batshit crazy.”
- Because 13F rules list only certain long option positions, the filings do not reveal strikes, expirations, or any offsetting legs, so the trades could be outright wagers or parts of spreads or hedges.
- Alongside the puts, Scion disclosed call options on Halliburton and Pfizer and new or adjusted equity stakes, and Burry posted charts suggesting AI capex excesses and circular financing reminiscent of past bubbles.