Wall Street Journal: For Burry, plans by two of South Korea’s largest tech companies to build a chip hub set off fresh alarm bells about whether the massive sums of money being poured into AI can ever pay off. Samsung and SK Hynix said earlier this week they plan to invest more than $500 billion to create the hub. The following day, chip stocks led the Nasdaq higher.
“The proximate cause of today’s rally is big spending announced out of Korea,” Burry wrote on his Substack on Tuesday. “Well, I see that as the beginning of the end.”…