Michael Burry flags Nvidia's $500 billion AI financing deal as proof of 'byzantine' money loop behind chip sales

Expert expectations still haven't caught up with Nvidia's actual numbers.

In its Q2 fiscal 2027 earnings report, the chipmaker announced $96.2 billion in revenue and $59.6 billion in net income, both up over 100% year-over-year. Those numbers are well above Wall Street estimates at $91.96 billion in revenue and $50.94 billion in profits, as reported in The New York Times .

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On the earnings call, CEO Jensen Huang proudly proclaimed, "We have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the U.S. and around the world."

Judging by the roughly 8% pop for Nvidia shares the next day, it's clear many investors believe the future is rosy for the AI growth story.

But "Big Short" investor Michael Burry isn't a buyer. If anything, Nvidia's sterling report could be used as further evidence of his long-term bearish thesis on overinflated AI demand.