Big short sees bearish AI lose all but still refuses to admit defeat, "I am still active in the market", predicts a big event on 11/25.

Burry responded for the first time after revoking the SEC registration of his fund, saying that he was still active in the market and said that he was free from compliance restrictions (Raoul Pal warned: Fed will no longer print money QE “liquidity will be short”, or repeat the 2018 repo market financial crisis) (Background supplement: The United States will release the September non-farm payrolls report next week, and the market is closely watching the Fed (Fed).) Impact of interest rate cuts) Michael Burry, a hedge fund manager known for his “Big Short” archetype, has repeatedly warned of AI bubbles and shorts in the past, and earlier this month terminated the investment advisory (RIA) registration with the U.S. Securities and Exchange Commission (SEC) for its asset manager, Scion Asset Management, as his fund continues to lose money. Burry later told the community via email that he was still active in the market, clarifying the line between the change of regulatory status and the continuation of investment activities, and reducing the misinterpretation of “full exit”. According to public information, Scion's registration was terminated on November 10, and Bury wrote “on to much better things Nov 25th” in an X post, leaving hints that there may be new developments on November 25. The market interprets that he will shift his focus to other investment vehicles or projects, while getting rid of the reporting obligations and compliance costs that come with RIA status. This round is essentially a friend and family fund… Michael Burry closing his fund DOES NOT mean he is done He is planning something massive on Nov 25th (17 days away) We think he is going to announce subtle moves on how we can all get in on his ideas. The Autopilot Burry tracker will now use this information moving forward. pic.twitter.com/UM4BquUgaH — Michael Burry Stock Tracker (@burrytracker) November 13, 2025 Bloomberg: Fame is too proud According to Bloomberg columnist Shuli Ren, he thinks Michael Burry Hurt by his fame, the self-proclaimed value investor, extremely pessimistic about the AI drive, voluntarily returned Scion Asset Management's external funds in November, and he also submitted a prominent 13F report, which can be his final judgment before closing the fund: more than $1 billion in puts are targeting Nvidia Corp. and Palantir Technologies Inc.。 Burry revealed in the documents that he held 1 million Nvidia put rights, with a notional value of about $187 million; It also holds 5 million Palantir put rights, with a notional value of approximately $912 million. Shuli Ren points out that this scale is far more like a desperate bet than just hedging. Burry believes that the outstanding performance of technology giants does not come from terminal demand, but cloud service providers in order to seize the market to seize a large number of chips, resulting in “synthetic growth”. According to Nasdaq, he questioned companies for underestimating hardware depreciation and masking declining returns on capital through accounting techniques. He likens the current atmosphere to a remake of the dot-com bubble of 2000. In the case of Palantir, where more than 700 times P/E was pinned on the “perfect execution” assumption, Burry decided that valuations would eventually return to gravity. DeepSeek's introspection Shuli Ren also reminded investors to examine Burry's recent setbacks in the Chinese market. In the first quarter of this year, Scion cut off all Alibaba parts, and then the breakthrough of Chinese AI model DeepSeek technology triggered a critical view: If he misses the turning point of Chinese AI, is there also a blind spot in the judgment of the US AI bubble? In 2025, when the Trump administration continues to ease policy and momentum trading is prevalent, bears are often threatened by short selling. Shuli Ren analyzed that Burry's return of funds can be seen as a defense against investor pressure: operating alone, no longer carrying redemption risks, and retaining the patience and flexibility needed to bet with the market. This echoes his experience in 2008 single-handedly insisting on mortgage default exchange contracts. Shuli Ren emphasized that the DeepSeek incident shows that the tech narrative can flip in an instant, and even seasoned bears can lose points due to technological change. After Burry closed the door to Scion, he was only responsible for his own funds, and the outside world could not know the trend in real time from the quarterly statements, and the risks and opportunities were more concentrated. Shuli Ren's conclusion is clear: Burry's bet is a reminder for investors to examine the capital efficiency and real needs of the AI industry; But in an age of rapid technological iteration, any single perspective can be inaccurate. The market will soon test whether the bearish legend will once again unveil the king's new clothes or be squeezed to the edge of the era by a new narrative. Related reports Fed microphone warning: Fed has no consensus on December interest rate cut, message black box has become an unexploded bomb Damo warning: Fed ends QT ≠ restart QE, the US Treasury's bond issuance strategy is the key Fed hawks | Bostic, who advocates “no interest rate cut in December”, announced his retirement in February next year [Big short selling bearish AI still does not admit defeat after losing out, “I am still active in the market”, trailer 11/25 Do something big" This article was first published in the dynamic area BlockTempo " The most influential blockchain news media.