Michael Burry Shorts Caterpillar for First Time at $1,060.98, Also Takes Positions Against Nvidia and Tesla

According to Michael Burry on July 1, the investor famous for shorting the U.S. housing market has shorted Caterpillar at $1,060.98, calling the equipment maker an overvalued beneficiary of AI investment hype. Burry also shorted Nvidia, Applied Materials, Tesla, and the iShares Semiconductor ETF (SOXX). Caterpillar shares gained 86% in the first half of 2026, reaching record highs as investors view it as a proxy for global AI infrastructure buildout. Burry noted the stock's price-to-sales ratio hit its highest level in at least 30 years.
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