Michael Burry flips on AI rally, shorts Caterpillar as valuation spikes
Legendary investor Michael Burry announced a short position in Caterpillar, saying the equipment giant’s price‑to‑sales ratio is at a three‑decade high after an 86% rally driven by AI hype. He added this to bearish bets on Nvidia, Tesla and semiconductors, warning the AI‑linked rally could be overextended.