Michael Burry Doubles Down on $1.1B Put Strategy, Shorting 5M Palantir Shares
Scion Asset Management revealed put options on 5 million Palantir shares in its November 2025 13F, part of a combined $1.1 billion notional value bet against Nvidia and Palantir. Palantir CEO Alex Karp publicly criticized Burry’s strategy as illogical given the company's strong AI-driven revenue growth.
1. 13F Filing Reveals Palantir Put Options
In its November 2025 13F filing, Scion Asset Management disclosed put options covering 5 million shares of Palantir, signaling a bearish outlook on the AI data analytics firm. The filing did not include strike prices, expiration dates or premiums paid, leaving details of the contracts undisclosed.
2. Combined $1.1B Notional Value Underlines Bubble Thesis
Scion’s put positions on Palantir and Nvidia carried a combined notional exposure of nearly $1.1 billion, reflecting Michael Burry’s conviction that the AI market is overheated. Burry has publicly warned of software bubbles and positioned to profit if valuations correct.
3. Palantir CEO Criticizes Short Bet
Palantir CEO Alex Karp slammed Burry’s put strategy as “bats— crazy,” arguing the company’s AI-driven revenue growth contradicts any rationale for shorting its shares. His comments highlight a stark divergence between Scion’s bearish stance and Palantir’s bullish performance metrics.