🚨 Michael Burry is shorting Nvidia over its $500B AI financing deal. He says it has "shades of Enron's effort to make wholesale power an investable class." Here's the setup: Nvidia teams up with Apollo, BlackRock, Blackstone, Brookfield, Goldman and KKR to line up over $500B in financing so buyers can afford its chips, and Nvidia backs up to 25% of the residual value. Burry's read: this quietly props up demand for Nvidia's own product. If you're too young to remember Enron: back in 2001 they tried the same move with electricity instead of chips, buried the debt in shell companies, and the whole thing collapsed within months. Burry nailed the subprime call in '08, but he's missed a few since. We'll see if this one's a sequel or a swing and a miss.(Lark Davis)