Michael Burry Wednesday hinted that his bearish bets against artificial intelligence-linked stocks were part of a broader thesis after revealing short positions in Tesla Inc, Nvidia Corp and other companies earlier this week. “There is so much more to this,” Burry said in a post on X, responding to a Wall Street Journal article highlighting his positions against Tesla, Nvidia, Applied Materials Inc, Caterpillar Inc and the iShares Semiconductor ETF. Burry did not elaborate. In a Substack post published July 1, Burry cited the Philadelphia Semiconductor Index’s historically high extension above its 200-day moving average and called the latest AI-driven spending surge “the beginning of the end.” Morgan Stanley expects hyperscalers to spend about $805 billion on capital expenditures in 2026, while Goldman Sachs estimates AI-related spending was running at an annualized $650 billion and could exceed $800 billion by the end of the year. On Tuesday, Apollo Global Management Chief Economist Torsten Sløk warned that U.S. stocks could face a sharp repricing if AI investments take longer than expected to generate earnings growth. Burry has not been bearish on all AI stocks; in his May blog, he named Adobe Inc, Intuit Inc, and Autodesk Inc as AI beneficiaries, while warning DocuSign Inc faced greater disruption risks. The iShares Semiconductor ETF closed 6.41% lower on Wednesday at $599.70, and fell further 6.36% in extended