Michael Burry said Tuesday he has placed a bearish wager against Caterpillar
, believing the construction-equipment maker has become one of the market’s most overvalued beneficiaries of the artificial intelligence investment boom.
The famed investor said he shorted Caterpillar shares at $1,060.98, alongside new bearish positions in Nvidia
, Applied Materials
, Tesla
and the iShares Semiconductor ETF (SOXX), as he prepared for what he believes is an increasingly overextended rally in AI-linked stocks.
“Caterpillar jumped out at me,” Burry wrote in a Tuesday SubStack post. “I have never shorted Caterpillar. It has always done great for me on the long side in the past.”
Caterpillar shares just capped off the first half of 2026 with an 86% gain, making the construction equipment giant one of the best-performing stocks in the S&P 500 this year as investors increasingly embraced it as a proxy for the global AI infrastructure buildout.
BREAKING: GM Quarterly sales down -4%$GM https://t.co/sKJs5qmZ05
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