Burry Demands Proof of “Warehoused” NVIDIA GPUs — AI Bubble Warning Hits Hard

Burry Challenges NVIDIA’ s Blackwell Shipment Claims

Michael Burry — famous for warning of the 2008 housing collapse — has publicly demanded evidence that NVIDIA’s Blackwell GPUs are sitting in warehouses, after an analyst questioned whether the company’s claim of shipping 6-million units aligns with publicly reported revenue, data-center capacity, and energy constraints.

In a post online, Burry urged users to send him photos or other proof of mass GPU stockpiling — either in the U.S. or abroad. He said some responses have come in, but insisted “it is getting interesting. But I need more.”

The demand for transparency comes amid growing skepticism over whether current AI demand and infrastructure needs justify NVIDIA’s reported shipment volumes — making the optics and credibility of their sales claim a major flashpoint.

Why This Challenge Matters — Beyond a Twitter Dispute

AI-Infrastructure Supply vs Demand Mismatch

If Burry’s concerns hold water, it suggests a possible mismatch between claimed supply of GPUs and actual deployment or demand. That could mean the AI-infrastructure boom is thinner than assumed — exposing risk in valuation across the sector.

Accounting & Depreciation Under the Microscope

Burry — and others — argue that long depreciation schedules on chips and hardware might be masking rapid obsolescence. In simpler terms: even if GPUs are “in use,” that doesn’t equate to ongoing economic value. As hardware gets outdated faster than expected, reported revenue might overstate real long-term value. Fortune+2Inc.com+2

Bubble Risk for AI Hardware Names

With tech valuations already stretched, doubts about real inventory and long-term demand could trigger a rapid value reset across AI hardware and infrastructure names — especially if investors start reading supply claims as speculative rather than real.

What This Means for Markets & Options Flow

⚠Elevated Risk of Volatility for NVIDIA and AI-Linked Chips

• Implied volatility could rise, as uncertainty grows over actual demand and inventory credibility.
• Expect rising put volume and skew if investors begin to hedge for downside — especially as speculation over inventory verification intensifies.

📉 Pressure on Hype-Heavy AI Plays; Opportunity in Real-Cash-Flow & Value Names

• Firms reliant on aggressive capex and future AI hype may get re-rated downward if supply/demand assumptions unravel.
• Value-oriented names with stable earnings, less reliance on speculative hardware sales, may see relative outperformance.

🔄 Rotation Risk & Capital Flight from Speculative “AI Boom” Names

If confidence on inventory and real demand erodes, capital could shift away from speculative hardware/AI names toward safer, more proven businesses — setting up a broader sector rotation.

What Traders Should Watch on Unusual Whales

• Spikes in put-flow, open interest, or skew in NVIDIA options — could be early signs of hedging or bearish sentiment.
• Volume and flow activity across chip-makers, hardware-infrastructure firms, and AI-adjacent providers — early signals of sector repricing.
• Defensive, cash-flow-stable stocks and value-names — increased interest may flag capital rotation.
• Volatility metrics across technology and AI sectors — potential systemic risk if uncertainty spreads beyond NVIDIA.

Unusual Whales’ flow-tracking, volatility-skew tools, and historical options data provide a real-time lens into this unfolding flashpoint.