This Thanksgiving’s real drama may be Michael Burry versus Nvidia

Investor Michael Burry, known for predicting the 2008 housing crisis, is publicly betting over $1 billion against Nvidia and the AI boom. He claims Nvidia's stock-based compensation has cost shareholders $112.5 billion, that AI companies are manipulating depreciation schedules on GPU equipment, and that customer demand is artificially inflated through circular financing. Nvidia responded with a seven-page memo defending its practices. After deregistering his investment firm to avoid SEC restrictions, Burry launched a Substack newsletter that has quickly gained 90,000 subscribers. The key question is whether his warnings reflect genuine market problems or whether his influence could trigger the very collapse he's predicting, similar to how prominent critics accelerated the downfall of Enron and Lehman Brothers.