Michael Burry just reshuffled his portfolio in ways that scream one message: the AI bubble still has room to pop. The Big Short investor ditched Microsoft entirely, closed his Oracle short, and rolled his bearish bets on Nvidia and the Nasdaq 100 all the way into 2027. His remaining short book reads like a greatest hits of AI excess: Nvidia, Palantir, Tesla, Micron, Applied Materials, Caterpillar, and the SOXX semiconductor ETF.

What Actually Moved

On the long side, Burry walked away from Microsoft with zero positions left. His Oracle short, which he'd held for at least six months, is completely closed after he trimmed half of it back in July. The Palantir situation is trickier. He liquidated his January 2026 puts on the stock but kept his core short position intact, deciding he didn't want to keep paying for time-limited options to make the same bet.

The real tells are the rolls. Burry extended his Nvidia puts to June 2027 with strikes in the low $100s. His QQQ short got pushed to February 2027. That's not a panic exit. That's someone building a longer runway for a thesis he still believes in.

The Pattern Underneath

Exiting Microsoft while staying short Nvidia reveals something specific about how Burry reads the AI landscape now. Microsoft is a diversified software company that happens to have OpenAI exposure. Nvidia is the company selling shovels during the gold rush. By dropping the former and doubling down on the latter, Burry appears to be tightening his focus toward companies most directly inflated by AI capital spending. Caterpillar on the short list matters too. The construction equipment maker benefited from data center buildout spending, making it a logical extension of a bet against AI infrastructure investment.

This move comes after Burry shut down Scion Asset Management in November 2025. He's been operating more as a solo trader since then, which means every disclosure now carries extra weight. When someone with his track record is extending shorts into mid-2027, markets tend to notice.

This material is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security.