Michael Burry Just Called Nvidia's SpaceX Chip Deal 'Fugazi.' (247wallst.com) AI

24/7 Wall St. reports that investor Michael Burry criticized Nvidia’s arrangement with xAI—where Nvidia sells GB200 GPUs into a financing/lease structure involving Valor Compute Infrastructure and Apollo, and then books revenue up front—calling it “fugazi” due to what he says is obscured, multi-layered credit risk potentially tied to annuity holders and leveraged, hard-to-value assets.