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Michael Burry's next big short may not be against a company — it's against the illusion propping them up. Fresh off reports of shorting Palantir Technologies Inc (NASDAQ:PLTR), the "Big Short" investor has turned his sights on Big Tech's accounting games, accusing giants like Meta Platforms Inc (NASDAQ:META) and Oracle Corp (NYSE:ORCL) of what he calls "frauds of the modern era."
In a post that's already rippling through financial circles, Burry claims tech firms are understating depreciation by stretching the "useful life" of their compute assets — even as they binge on new Nvidia Corp-powered (NASDAQ:NVDA) hardware with much shorter cycles.
The result, he says: inflated earnings, masked costs, and as much as $176 billion in understated depreciation between 2026 and 2028.
It's a thematic evolution for Burry. His earlier Palantir short bet on the AI narrative overheating — a wave of retail enthusiasm outpacing fundamentals. Now, his focus has moved from overvaluation to overstatement: how the accounting behind the AI boom is smoothing volatility and amplifying profits on paper.
Read Also: Palantir CEO Says Michael Burry Is ‘BatS–t Crazy’
By extending server lifespans from three to six years, hyperscalers like Meta, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Microsoft Corp (NASDAQ:MSFT), and Oracle are reducing reported expenses — a move that flatters margins and earnings per share.
But Burry warns it's all temporary. Once replacement cycles hit, the illusion ends — deferred depreciation can only mask costs for so long.
To Burry, this isn't just aggressive accounting — it's the structural weakness beneath the AI CapEx frenzy. If Palantir symbolized the hype behind the AI boom, Meta and Oracle now represent the accounting stretch sustaining it. His warning hints at something larger: the next "Big Short" may not be about debt or valuation, but about the credibility of AI-driven profits themselves.
In the age of artificial intelligence, Burry suggests, even earnings might be artificially intelligent.
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Image created using artificial intelligence via Midjourney.
