Nvidia memo shock: Michael Burry calls it ‘almost a hoax’; Wall Street investor reacts

Michael Burry, famed for predicting the 2008 housing crisis, is now sharply criticizing AI giants like Nvidia. He accuses them of misleading investors through “straw man” arguments and “blessed fraud,” particularly regarding how they account for chip depreciation. Burry believes extending the useful life of AI hardware inflates short-term profits, risking future write-downs.