Dr. Michael Burry, known for “The Big Short,” has bought put options against Nvidia as he bets against the high-flying company, which holds a market cap above $4.7 trillion and has surged over 1,200% in the past five years. Despite his poorly timed 2023 bet against semiconductors, Burry believes there is overvaluation in the semiconductor space. Loop Capital maintains a $350 price target on Nvidia stock driven by expected AI adoption acceleration. While there’s a chance Burry may be wrong, the stakes are high for Nvidia as skepticism about AI intensifies and fears of an AI bubble mount.

Read more at Yahoo Finance: Nvidia Stock’s Path to $350. Could Such a Rally Pressure Burry to Close His Bet?