Michael Burry Adds to Micron Short as Memory Thesis Deepens

Michael Burry is pressing his bet against the AI memory trade. The Scion Asset Management founder disclosed on Substack that he has added to his short position in Micron, alongside larger shorts in Nebius, the iShares Semiconductor ETF, and Palantir.

What Burry Actually Said

Burry wrote that he had shorted more Micron (MU), Nebius (NBIS), iShares Semiconductor (SOXX), and Palantir (PLTR). “I did this in some size,” Burry wrote.

“All have corrected tremendously, and I find the prices offered by the market rather attractive,” Burry wrote, adding that all five positions are now full positions. The move builds on a thesis he first laid out over the summer.

How the Micron Short Got Here

Burry added Micron Technology to the trade, shorting the memory-chip maker outright at around $1,051. At the time, Burry said he preferred the outright short because Micron’s put options were too expensive.

In his Substack post “Trading Post August 13, 2026,” Burry disclosed that he pressed his bet against Micron Technology (NASDAQ:MU) as the stock climbed toward $1,000, and rolled his puts on the Invesco QQQ Trust (NASDAQ:QQQ) up in strike and further out in time. He acknowledged being roughly breakeven on his shorts, but the situation is tipping into a loss position across the short portfolio as the market rallied. Burry framed the repositioning as preparation for a larger fall in the market.

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The Supply Signal Backing the Trade

Burry’s bearish memory-stock thesis gained another data point after Acer CEO Jason Chen warned that rising Chinese production could eventually ease supply constraints and pressure prices. In a Substack post, Burry cited Chen’s interview, in which he said memory inventories are building, and that mainland Chinese suppliers are releasing more volume into the market, challenging forecasts that the current shortage could persist for years.

Chen expects the additional capacity to eventually put pressure on prices, with the impact becoming more visible from late 2027. That timeline lines up with Burry’s broader call for an AI compute glut in 2028.

The Bigger AI Short Book

Burry is doubling down on his bet against the AI infrastructure boom, adding to short positions in Oracle Corp. (NYSE:ORCL), Micron Technology Inc. (NASDAQ:MU) and Nebius Group (NASDAQ:NBIS) as he predicts an AI compute glut in 2028. He disclosed on Substack that he added to Nebius around $247, Micron around $924 and Oracle around $152, and boosted March 2027 puts on the iShares Semiconductor ETF (NASDAQ:SOXX).

He argues circular financing allows capital injected into the AI ecosystem to flow back to participants as revenue, while debt makes up a growing share of that capital, which he says puts the bubble on a clock. The setup reminds him of 2000, when tech firms grew by selling to each other.

Options market and stocks to watch

Watch for continued flow reactions across Burry’s named shorts and adjacent AI names:

MU — Watch for put activity and skew shifts after Burry’s add. Micron stock has soared 238% year to date, putting Burry squarely in the path of the AI memory trade.

NBIS — Watch for volatility around Burry’s size-up near the $247 level.

SOXX — Watch the March 2027 put chain where Burry has added exposure.

PLTR — Watch for follow-through flow after Burry’s renewed short interest.

ORCL — Watch AI-infrastructure-linked names as the glut thesis gets tested. See more coverage in our news feed.

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