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Search results for Michael Burry

AI & Enterprise

AI cannot replace all corporate work, economist says, citing costs

Steve Hanke, an applied economics professor at Johns Hopkins University, criticised optimism that AI will spread at near-zero cost and said it cannot replace all human jobs. He said AI requires large amounts of electricity, water and physical capital such as graphics chips. Big tech firms expect about $700 billion in combined capital spending this year for data centres. Hanke said AI’s impact will depend on how much scarce resources cost.

AI & Enterprise

Big Short\'s Michael Burry resumes Tesla short, targets Nvidia and semiconductor ETF

Investor Michael Burry, known as the real-life figure behind the film \'The Big Short\', disclosed a new short position in Tesla at $416.22 as part of a broader wager against what he called overheating in AI and semiconductors. He also listed shorts in Caterpillar, Nvidia, iShares Semiconductor ETF and Applied Materials. He did not disclose the size or structure of the Tesla position. Burry argued semiconductor valuations are at an extreme level.

Crypto

Bitcoin could drop below $24,000 in 2026; a sharp U.S. stock selloff is the variable

Bitcoin could fall below $24,000 in 2026 if a macro shock sends U.S. stocks down more than 50 percent, a forecast said. Technical analyst Jesse Olson told Cointelegraph bitcoin could slip to $23,980, citing a long-term support line based on his Market Sniper Pro VWAP indicator. Some market figures warned of a potential equity correction. Coinbase premium readings and U.S.-listed spot bitcoin ETF flows have stayed weak, with $4.68 billion of net outflows since May.