The investor who famously predicted the 2008 financial crash is refusing to back down from a huge stock market bet - even after President Donald Trump pumped the stock he's targeting.
Michael Burry, the investor immortalized in The Big Short for predicting the 2008 financial crash, said he is still betting against Palantir despite President Trump's public praise for the company.
Shares of Palantir briefly jumped higher after the president praised its 'great warfighting capabilities and equipment' in a Truth Social post on Friday.
But the Trump bump isn't deterring Burry from his conviction that the value of the company will decline over the long term.
In a blog post published shortly after Trump's intervention, Burry said he is sticking with his bet that the stock will fall, insisting he has no plans to close the position.
Shares of Palantir moved a bit higher on Monday, but they are still down almost 40 percent since Burry first announced his bet against Palantir and Nvidia in early November 2025.
Before Trump's post, Burry had been spent days warning that Palantir's sky-high valuation was under threat - and even suggested it was losing ground to fast-rising AI rivals.
In a now-deleted post, Burry claimed that Anthropic - a $380 billion artificial intelligence start-up - was 'eating Palantir's lunch'.
Burry built his fortune - and his legend - by spotting a financial apocalypse before anyone else.
A former neurologist turned hedge-fund manager, he bet against the US housing market in 2007, correctly predicting that sub-prime mortgages would collapse.
His trade generated billions for his investors and was immortalized in The Big Short -first a best-selling book by Michael Lewis and later a Hollywood film.
Since then, Burry has made a career of warning about bubbles - from bitcoin and meme stocks to post-pandemic tech rallies.
Last November, Burry made a very public show of his contrarian bet against Nvidia and Palantir, echoing his original contrarian streak.
Both firms have been at the center of the AI stock market boom that has sent valuations to eye-watering levels.
Just last week, he published a trading update that stated he was still all-in on his bet against Nvidia, confirming that he'd put even more money into the bet.
Until the end of March, the bet against Nvidia was looking good, with shares of the chipmaker down 20 percent since his big announcement last November.
Unfortunately, Nvidia's stock has rallied hard though the first weeks of April, and is not only down 8 percent from the date Burry announced his short position.
Many believe that Palantir has been a big beneficiary of the Iran war due to the amount of business the company has with the US government.
The US armed forces have been enthusiastic customers of Palantir intelligence and data analysis products, including the Maven Smart System, which provided a real-time data dashboard for operations in Iran.
The company has prospered under both Democratic and Republican administrations. During the second Trump administration, it has won multibillion-dollar contracts with the Department of Homeland Security and Immigration and Customs Enforcement.
Palantir is also among the corporate donors who pledged money to Trump's White House ballroom project, alongside Amazon, Apple, Google and Microsoft.
Michael Burry, founder of Scion Capital and the real-life investor behind The Big Short
Palantir CEO Alex Karp on CNBC, where he called short sellers 'bat crazy' in a fiery on-air rant