Micron faces larger Michael Burry short, as Chinese rival goes public

Michael Burry increased his short position against Micron Technology, Inc. The Scion Asset Management founder disclosed selling more shares short at $933.86. Burry also deepened bearish positions on Nvidia and the iShares Semiconductor ETF (SOXX).

China’s leading DRAM maker, ChangXin Memory Technologies (CXMT), recently completed a blockbuster IPO. This move highlights increasing competition in the memory chip sector.

Analysts suggest Micron remains well-positioned in the high-growth AI memory market. The company's stock saw pre-market gains on the day of the announcement.