Burry doubles down on Nasdaq 100 puts, increases bearish SMH position amid Nvidia leadership turmoil

What happened

Michael Burry said he doubled his Nasdaq 100 put position, an options bet that gains if the index falls, using a rebound from 27,000. He also bought back 25% of a previously reduced put position in the VanEck Semiconductor ETF, with those options expiring in June.

Confirmed

Global impact / market context

Burry’s trades express a view that technology and semiconductor shares could fall, while his comments point to Nvidia’s influence on AI infrastructure as a key risk. If that influence weakens, companies that benefited from it could face pressure, while he sees Broadcom and AMD as potential beneficiaries.

Analyst inference

Burry said Nvidia-linked companies, including Nebius, TSMC, ASML and CoreWeave, had benefited from Nvidia’s market power. He believes that power may be weakening, expects semiconductor earnings to decline over the next couple of years, and prefers SMH for short bets over the iShares Semiconductor ETF.

Confirmed

What to watch

1. Watch for Burry’s stated signs that Nvidia’s influence is significantly weakening; that would support his argument that companies tied to its AI infrastructure ecosystem could face a changing outlook. Confirmed
2. Track whether Burry’s bearish positions change: he has described doubling Nasdaq 100 puts and restoring 25% of a prior SMH put position, with the latter options expiring in June. Confirmed
3. Compare future results and company commentary from Nvidia-linked firms with Broadcom and AMD; evidence of shifting customer bargaining power could clarify whether the beneficiaries Burry identifies gain business. Analyst inference

Evidence

• seekingalpha.com