Burry doubles down on Nebius short after stock surges 34% on earnings

Earnings Impact 4
โดย Investing.com·US·Read original
Summary · why it matters

Michael Burry added to his short position in Nebius Group on August 12, the same day the AI cloud company's stock surged 34% after reporting second-quarter revenue of $582.3 million, up 454% year-over-year and ahead of analyst estimates of $572.75 million compiled by LSEG. Burry, who first disclosed his NBIS short on August 6 at approximately $212 per share, called Nebius "what the top of a boom looks like" in a Substack post, and also raised short stakes in Micron and Oracle. Nebius, the Nvidia-powered AI cloud provider spun out of Yandex and headquartered in Amsterdam, reported AI cloud revenue jumped 514% to $575 million, closed four landmark deals averaging more than $1 billion each in total contract value, and raised its 2026 contracted power target to 5 gigawatts from 4 gigawatts. Burry's bear case centers on depreciation accounting and off-balance-sheet commitments, arguing AI infrastructure companies are stretching the useful life of chips and overstating earnings. Nebius ended June with $8 billion in cash and generated $2.2 billion in operating cash flow, though capital expenditures of roughly $5.7 billion exceeded analyst estimates of $4.7 billion.

Impact on stocks 4

Artificial Intelligence▲ · 2 stocks
Nebius Group N.V.
NBIS
▲ PositiveDemandCapitalrelevance

Q2 revenue up 454%, AI cloud revenue up 514%, and four landmark deals over $1B each.

Semiconductors▼ · 1 stocks
Micron Technology Inc
MU
▼ NegativeCapitalrelevance

Burry raised short stake in Micron, citing AI infrastructure overstatement.

Cloud & Digital Infrastructure▼ · 1 stocks
Oracle Corporation
ORCL
▼ NegativeCapitalrelevance

Burry raised short stake in Oracle, part of his bearish AI infrastructure view.

Theme Impact 3

Off-coverage companies 1

Yandex (IPJSC Yandex)Private± Mixed
relevance

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