Michael Burry’s Scion Asset Management discloses put options against two AI leaders as of September 30, according to a 13F filing released Monday. The notional values: roughly $912 million against Palantir and $187 million against Nvidia. The filing doesn’t specify strike prices or expiration dates.

The disclosure follows a cryptic post on X last week in which Burry writes, “Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play.” In a Monday post, he shares charts comparing today’s AI capex surge to the dotcom era.

Palantir CEO Alex Karp fires back on CNBC’s Squawk Box Tuesday, calling the bets “bats— crazy.” “The two companies he’s shorting are the ones making all the money, which is super weird,” Karp says. “It’s probably just, ‘How do I get my position out and not look like a fool?’”

Markets sell off sharply. Palantir falls 8% despite beating revenue estimates and offering upbeat guidance. Nvidia drops 4%. The Nasdaq slides 2%, its worst day since August, and the S&P 500 slips 1.17%. Separately, Goldman Sachs CEO David Solomon warns of a 10–20% equity drawdown ahead.