he Big Short investor Michael Burry says that Nvidia quarterly earnings of $75.2 billion from the data center business may be the most dangerous kind of numbers there are.
In a May 2026 Substack post titled “The Heretic’s Guide to AI’s Stars Part III: Tracepalooza and the Bezzle,” Burry laid out his most specific argument yet against the AI infrastructure trade.
The post has been read by more than 200,000 subscribers, and the reaction from Wall Street was significant enough that Nvidia took the unusual step of sending a memo to sell-side analysts pushing back on its arguments on stock-based compensation and depreciation, according to CNBC.
In a May 2026 Substack post titled “The Heretic’s Guide to AI’s Stars Part III: Tracepalooza and the Bezzle,” Burry laid out his most specific argument yet against the AI infrastructure trade.
The post has been read by more than 200,000 subscribers, and the reaction from Wall Street was significant enough that Nvidia took the unusual step of sending a memo to sell-side analysts pushing back on its arguments on stock-based compensation and depreciation, according to CNBC.