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Jack Farley & Max Wiethe breakdown Michael Burry’s big Nvidia short thesis and the recent projections from HSBC that Open AI will lose nearly half a trillion dollars between now and 2030. They also discuss the recent repricing of Fed rate cuts in December and debate which companies are the biggest losers if AI turns out to be a bubble.
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Timestamps:
00:00 Intro
00:16 The Biggest Event in Macro
00:55 Breaking Down Michael Burry's Short Thesis for Nvidia
04:47 Semiconductors Are Historically Cyclical
07:08 Is Nvidia a Good Short?
08:25 Criticism of Burry's Analysis
16:38 Fiscal.ai
18:17 Open AI's Massive Loss Projections
24:26 AI Coding Agent Revenues
26:25 Can Nvidia Escape Unscathed?
29:54 Michael Burry's Substack Success
30:54 AI Spending's Impact on GDP
31:56 December Fed Meeting
