michael burry s p 500 bubble nvidia gains valor shell company

🚨 MICHAEL BURRY: S&P500 IS A BUBBLE
This guy solo predicted 2008 crash,
and made $800M for him and his investors.
Here's what he says now:
In 2024, Nvidia alone drove 33% of S&P 500 entire gain.
1 company. Out of 500.
And that's the revenue that made Nvidia worth $3+ trillion?
Michael Burry just called it "Fugazi."
SO THIS IS WHAT HAPPENED, AND I AM SHOCKED:
> Nvidia sold $5.4B worth of GPUs to a company called Valor
> Valor is a shell company with no operations, no products, no employees
Its only purpose: hold legal title to those chips
> Nvidia also invested $1.9B of its own money INTO Valor
> So Nvidia sold chips to a buyer it partially funded itself
> Then booked $5.4B as completed revenue
The chips are physically inside Elon Musk's xAI data center, running Grok.
But on paper? They belong to nobody real.
Now where did Valor get the money?
Apollo raised $3.5B in debt, packaged it into securities, sold it to Athene.
Athene sells retirement annuities to ordinary Americans.
Your grandparents' savings are funding Elon's AI cluster.
And they have no idea.
Athene's numbers:
> $103B in Level 3 assets (no observable market price)
> 16x leverage Based in Bermuda, outside US insurance regulation
Every step is technically legal. That's exactly what they said about mortgage-backed securities in 2006.
One company driving 1/3 of S&P 500 gains,
while people believe we are in the bull market.