Big Short yatırımcısı, Nvidia'nın yapay zekasının 'Enron tonlarına' sahip olduğu konusunda uyardı."Artık mali durumunuzu herhangi bir yapay zeka patlamasından koruyun

Big Short investor warns Nvidia’s AI has 'shades of Enron.' Protect your finances from any AI fallout now

Emily Southard-Bond

Fri, August 21, 2026 at 3:05 PM GMT+3 5 min read

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Michael Burry, the US investor who predicted the 2008 housing crash and was depicted in the film The Big Short, is warning that Nvidia's latest $500 billion AI funding deal could be another Enron disaster.

Burry deregistered his hedge fund, Scion Asset Management LLC, in 2025 with plans to focus on his own personal finances. Since then, Burry has posted on Substack under "Cassandra Unchained (1)" — a prophetess who was routinely ignored.

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The investor frequently shares market analysis and investment projections while commenting on controversial deals — usually pertaining to AI companies.

And, despite taking aim at Nvidia, they're far from the only company Burry is betting against.

Is Nvidia's AI Push the Next Enron?

In a recent Substack post, Burry analyzed Nvidia's new $500 billion funding deal and claimed the chip giant is engaged in "circular" financing through agreements with six Wall Street giants, including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR.

He isn't the first to take aim at AI's "circular financing." Bloomberg has previously reported on the practice (2), and its dangers, as more and more capital is circulated among some of America's top companies.

Burry notes that Nvidia's multi-billion announcement is more like a public relations stunt than a solid investment deal with "shades of Enron."

In the late 90s and early 2000s, Enron created opaque funds to hide billions of debt from the company's main balance sheet while creating fake transactions, deceptive financial models and even shell companies to hide that debt — which triggered its massive collapse in 2001.

Burry was also concerned that the deal distracts from Nvidia's credit risk measured by its five-year CDS spread, which is somewhat like credit risk — and has spiked over concerns of AI infrastructure buildout costs along with the threat of circular financing.

Although Nvidia is not being accused by Burry of the exact same deceptive practices, he does warn that this multi-billion dollar AI deal is creating a "financing feedback loop" that can artificially inflate sales and mask true market demand.

Tech giants and private credit firms, like Goldman Sachs and BlackRock that support the deal, will be able to fund data center projects and chip purchases. This then cycles back into Nvidia's top-line hardware revenue. Burry believes this circular process will artificially inflate Nvidia's sales and mask true market demand.

Nvidia, which is a major financial backer of OpenAI, has also poured billions of dollars into additional fast-growing data centre businesses that buy its AI chips.

In response to critics like Burry, Jensen Huang (3), Nvidia's CEO, defended the company's latest funding deal and denied its data centre financial model is "circular" adding that the tech giant is "bringing independent, long-term institutional capital into the AI infrastructure market."

But for critics, the flood of capital could create a frenzy of excessive investment and then asset-price inflation — which could destabilize markets, not to mention your portfolio, if AI demands don't meet anticipated valuations.

Prepare for an uncertain market

It's no secret the U.S. market has faced a series of destabilizing factors over the past year: From geopolitical energy shocks to sweeping tariffs from trade policy adjustments.

But despite these shifts, major stock indexes have demonstrated resilience, and even record highs, supported by strong corporate earnings. (4)

For Burry, Nvidia's deal could be a bellwether for shaky markets to come.

For the average investor, it could mean a loss of capital. That's where diversification comes in.

Hedge with gold

Gold has long been a go-to for investors looking to diversify against uncertainty. The idea is simple: Unlike fiat currency, the precious yellow metal can't be printed at will by central banks.

As a result, it has some insulation from market shifts. Reuters is also reporting an increase in central-bank purchases of gold in the second quarter of 2026 (5), and the spot price was edging towards nearly $4,500 an ounce as of mid-August (6).

Investors looking to diversify could explore alternatives like a gold IRA from Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainty.

To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

Diversify with real estate

Other options to consider are rental real estate properties. Like gold, real estate can hold its value better against inflationary pressure. It can also generate passive income from rent.

But becoming a landlord takes a substantial amount of time and capital — not to mention the stress of managing people, not just property. This is where the headaches can start. However, there are options for investors looking to get into real estate without the hassle of being a landlord.

Mogul is a real estate investment platform offering fractional ownership in blue-chip rental properties, which gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 a.m. tenant calls.

Founded by former Goldman Sachs real estate investors, the team hand-picks the top 1% of single-family rental homes nationwide for you. Simply put, you can invest in institutional quality offerings for a fraction of the usual cost.

Each property undergoes a vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10 to 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Getting started is a quick and easy process. You can sign up for an account and then browse available properties.

Talk to an expert

But before attempting to go about this on your own, it's almost always a good idea to tap an expert for guidance.

A financial advisor will be able to give you solid advice on whether or not things like precious metals or investments in certain real estate markets fit into your portfolio. It's typically best to go with an advisor who is legally required (a fiduciary) to act in your best interests and not a friend of a friend.

One option is Advisor.com, a SEC-registered entity (operating under ADVR, LLC and its in-house arm, Advisor Wealth Management) that functions as a fiduciary.

How it works is simple: Just enter some basic information, like your ZIP code, and a bit about your financial needs. From here, Advisor.com will connect you with a qualified, vetted expert for free, suited to your needs based on your unique financial goals and preferences.

Even better, you can set up a free call with no obligation to hire to make sure they're a good fit before committing to anything.