Michael Burry Adds To NVDA, QQQ Puts, Warns AI Trade Resembles Dot-Com Bubble — ‘Pattern And Level Is Closer Than Numbers Alone Suggest’

Michael Burry has warned that the ongoing surge in semiconductor stocks, driven by the artificial intelligence boom, echoes the dot-com boom that peaked in 2000.

“The Big Short” investor also doubled down on his puts on Nvidia Corp. (NVDA), the iShares Semiconductor ETF (SOXX), and the tech-heavy Invesco QQQ Trust (QQQ) ETF.

In his Substack post on Wednesday, Burry compared the ongoing semiconductor rally to the dot-com era boom, overlaying the Philadelphia Semiconductor Index from 1996-2000 with its performance since 2022 to highlight similarities between the two runs.

“The chart reveals the pattern and level is closer than numbers alone would suggest,” Burry said.

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