Michael Burry Has Soured on Palantir and Is Betting on This Other Beaten-Down Artificial Intelligence (AI) Software Stock Instead
Michael Burry has sold his stake in Palantir Technologies and invested in Salesforce, signaling a shift in his views on AI software stocks. Burry's move is seen as a contrarian bet, as Salesforce is considered a more traditional customer relationship management platform compared to Palantir's bespoke data analytics.
Michael Burry, known for predicting the 2008 US housing market crash, has sold his stake in Palantir Technologies and invested in Salesforce. Burry's hedge fund, Scion Asset Management, had previously bet against the housing market and delivered significant returns. He is known for his detailed analysis of balance sheets and cash-flow scenarios. Palantir and Salesforce are both enterprise software companies that have invested heavily in AI, but they have different approaches. Palantir's strength lies in its data integration capabilities, while Salesforce dominates the customer relationship management market. Burry's move is seen as a signal that he believes Salesforce is undervalued compared to Palantir.
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