TradingKey – On July 31 Eastern Time, Micron ( MU) fell more than 5% in intraday trading today after surging 18% yesterday, trading at $530 as of press time.

It is reported that Michael Burry, the real-life figure behind the movie “The Big Short”, stated on Substack that he has increased his short position in Micron at around $880.

Burry pointed out concerns over artificial intelligence valuations, noting that the price of Nvidia’s five-year credit default swaps is rising “parabolically” due to “circular spending on an unprecedented scale.” He had previously stated that Nvidia’s future revenue is heavily reliant on off-balance-sheet financing arrangements.

Meanwhile, Apple CEO Tim Cook likened the soaring memory prices to a…