Michael Burry, known as "The Big Short," criticized the $500 billion AI infrastructure financing arrangement led by NVIDIA during Wednesday's early U.S. stock trading session, comparing the complex financing network of private credit and asset-backed securities to systemic risks before the 2008 financial crisis. Burry has been publishing pessimistic commentary on Substack and heavily shorting AI technology stocks, maintaining positions in NVIDIA, Tesla, Micron Technology, Applied Materials, Palantir Technologies, and the iShares Semiconductor ETF. His short portfolio has become a systematic bet against "AI capital expenditure + AI valuations," but a recent strong rebound in AI semiconductors and a tech stock rally driven by moderate U.S. CPI growth data are pressuring this trade. Factors including CoreWeave's sold-out capacity, the extension of A100 chip lifespan to 2029, NEBIUS's price hikes and $40 billion in customer commitments, and narrowing NVIDIA credit spreads have favored Jensen Huang and Morgan Stanley's "AI factory as financeable assets" framework. Some investors suggest Burry's criticism indicates he is "desperate due to losses." CoreWeave raised its 2026 capital expenditure guidance to $35–$39 billion, and NEBIUS reported a year-over-year explosion in Q2 revenue, potentially selling out planned 2027 capacity. Burry, currently shorting NEBIUS, may face pressure to cover positions.