Michael Burry’s Scion disclosed $1.1 billion in put options against Nvidia and Palantir (about 80% of Scion’s Sept. 30 portfolio). The filing sparked immediate volatility: Palantir fell as much as 16% (closing ~8% down) despite beating Q3 estimates and raising guidance; Nvidia slid 2–4%; the Nasdaq dropped ~2% and global markets pulled back. Palantir trades at extreme valuations (P/E ≈ 254, P/S ≈ 115) and is below its 50-day average, while Nvidia remains above its 50-day average and is more resilient. Burry warned about “circular financing” among big tech and AI partners; analysts called the setup bubble-like, Wall Street executives warned of possible 10–20% corrections, banks explored hedges, and Palantir’s CEO called the short “batshit crazy.”

Burry’s $1.1B put disclosure (≈80% of Scion’s portfolio) produced immediate price moves: Palantir plunged up to 16% (close ~8% down), Nvidia fell 2–4%, and the Nasdaq fell ~2%. The story cites extreme Palantir valuations and market caution (analysts warning of corrections, banks hedging), supporting a negative sentiment and a high short-term market impact.