Michael Burry Predicts Strong Nvidia Q2 Results Amid AI Concerns

Famed investor Michael Burry projected on Monday, August 24, 2026, that Nvidia will report a blowout second-quarter earnings result following Wednesday's market close, despite maintaining his short position against the chipmaker over concerns regarding artificial intelligence spending patterns.

Wall Street consensus forecasts Nvidia's revenue to more than double year-over-year to $91.48 billion according to Fiscal.ai, with adjusted earnings rising to $2.07 per share. Financial data from Koyfin also projects sequential revenue growth of nearly 13% to $92.07 billion and an EBITDA increase to $61.99 billion.

Addressing subscribers on Substack regarding Nvidia's upcoming financial report and its market implications, Burry expressed skepticism about market enthusiasm surrounding the release.

"They will be lights out and accompanied by the kind of hype that tells you FOMO has almost all the people that would buy it already in it," said Michael Burry, Founder, Scion Asset Management.

Burry raised separate concerns regarding the financial relationships linking semiconductor manufacturers to specialized cloud providers and artificial intelligence firms.

"At the chip makers, roughly 100% of announced revenue is circular. That's per the BIS [Bank for International Settlements]," said Michael Burry, Founder, Scion Asset Management.

The investor highlighted structural risks within Nvidia's business model, noting heavy reliance on key hyperscale clients including Microsoft, Meta, Amazon, and Alphabet. He noted that rapid hardware depreciation schedules and non-cancellable supply obligations exceeding $182 billion could impair capital recovery if major clients trim capital expenditures.