Burry flags Nvidia‑xAI deal as hidden retiree risk
Michael Burry warned that the Nvidia‑xAI financing scheme, backed by a $5.4 billion GPU sale to a shell company and debt sold to insurer Athene, could expose U.S. retirees’ annuity funds to AI‑related losses. He calls the structure “fugazi,” arguing the risk is hidden from corporate balance sheets but transferred to retirement investors.