Investor Michael Burry, famed for predicting the 2008 housing crash, is now betting against Nvidia Corp. (NASDAQ:NVDA), warning that the AI-driven chip boom is vulnerable to a sharp reversal.

In a Substack post over the weekend, Burry said he is shorting Nvidia because the chipmaker is “simply the purest play” on artificial intelligence and is dangerously reliant on hyperscaler spending.

“I do not see how that math works,” he wrote, adding that Nvidia could sell about $400 billion worth of chips this year while there are “less than $100 billion in application layer use cases.”

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Burry said Nvidia is “the most loved, and least doubted,” making it an attractive short because expectations leave little room for disappointment.

Burry explained that betting against Meta Platforms Inc. (NASDAQ:META), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), or Microsoft Corp. (NYSE:MSFT) would mean wagering against their dominant core businesses.

Shorting Meta would be “shorting its social media/advertising dominance,” while betting against Microsoft would be “shorting a global office productivity SaaS goliath,” he wrote.

Those companies, Burry said, are not “pure shorts on AI” and could absorb losses if AI spending slows.

He also warned of technological obsolescence at Nvidia, noting the company introduces new chip solutions every year or less, raising the risk of future writedowns.

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On Monday, Burry criticized Meta after Chief Executive Officer Mark Zuckerberg announced plans to sharply expand AI capacity, warning the company was abandoning its asset-light model for a capital-heavy strategy that could hurt returns.

Burry said Meta was “throwing away its one saving grace” and cautioned that return on invested capital could fall as spending accelerates.

Earlier, Burry also turned bearish on Oracle Corp. (NYSE:ORCL), saying he owned put options and had shorted the stock as the company expanded into cloud computing and took on more debt.

Oracle shares were down about 40% from their September peak.