By coinnews 
00:00 Speaker A
13F filings, which are quarterly disclosures required by the SEC for institutional investors, are revealing where Wall Street’s biggest names are putting their money to work. Let’s look at Michael Burry, the investor who bet against the housing market in 2008. He was made famous by the film The Big Short. He is now betting against Nvidia. Burry purchased put options which profit from put price declines on the chipmaker. He also bought puts on China stocks like Alibaba, Baidu, jd.com, and then liquidated the majority of his portfolio. Not required in the disclosure is the why behind the moves, so we don’t know why he’s selling Nvidia, but when it comes to China stocks, he was previously a buyer and has slowly been unwinding his positions as those stocks have outperformed in the first quarter, perhaps a little profit trimming there. His firm Scion only has one remaining equity stake, and it’s in Estee Lauder, the shares up about 7/10 of a percent at the moment, but we saw a huge pop off the back of that news from Michael Burry’s firm there.
01:58 Speaker A
Well, speaking of Nvidia.
02:15 Speaker A
Speaking of Nvidia, the company reportedly increasing its stake in CoreWeave. The AI infrastructure stock surging on the news. You can see here those shares up nearly 19%. Of course, Nvidia already having a stake in the company previously. Let’s talk a little bit more about this. Nvidia reporting the stake in the cloud computing provider to over 24 million shares. Again, that’s 7% of outstanding shares. This disclosure was made in a 13G filing where companies have to report their holdings to the SEC. Nvidia was expected to have a little over a 5% stake in the company after CoreWeave’s IPO. This was shown in a prospectus that was out on March 31st. Nvidia did anchor CoreWeave’s IPO back towards the end of March with an order of about $250 million worth of shares. That was roughly 17% of the deal. And that is according to reporting from the company Bloomberg News. But you’ve got a huge pop in the stock off the back of this news of Nvidia again increasing its stake in CoreWeave. Those shares are up 19%. They had a strong earnings result this quarter in terms of revenue. There were questions about the company’s debt load, which did put a little bit more pressure on the stock, but that’s certainly being ignored in a focus instead on Nvidia reporting an increased stake in CoreWeave here.