Michael Burry Hints At Bigger Nvidia Asia ‘Reveal’ As Jensen Huang’s ‘Deer In The Headlights’ Dig At Colette Kress Resurfaces

Nvidia Corp. (NASDAQ:NVDA) is facing fresh questions over its China exposure and aggressive AI dealmaking, with two high-profile developments putting the chipmaker’s business under renewed scrutiny that has led to Jensen Huang stepping down as CEO.

"The Big Short" investor Michael Burry has hinted at a potentially bigger revelation about Nvidia’s Asia business, while Space Exploration Technologies Corp. (NASDAQ:SPCX) and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has added to the intrigue with a cryptic reaction.

Burry Flags Bigger Nvidia Revenue Mystery, Musk Reacts

“This is no surprise to analysts who years ago questioned SE Asia/Singapore’s need for so many advanced $NVDA chips,” Burry wrote in a post on X.

However, the investor suggested the bigger revelation could concern Nvidia’s reported business in the region.

“The real reveal would be evidence that NVDA booked more revenue and profit from Asia than it had let on,” he added.

This is no surprise to analysts who years ago questioned SE Asia/Singapore’s need for so many advanced $NVDA chips.

The real reveal would be evidence that NVDA booked more revenue and profit from Asia than it had let on. https://t.co/URj6C6Oosh

— Cassandra Unchained (@michaeljburry) November 13, 2026

Musk also responded to the discussion with a thinking-face emoji, drawing further attention to Burry’s remarks.

🤔

— Elon Musk (@elonmusk) November 13, 2026

The comments come as an independent researcher claims to have found forensic evidence that six Chinese AI models, including DeepSeek-V4-Pro, Kimi K3 and MiniMax-M3, were initialized using Nvidia’s export-restricted Blackwell chips.

The researcher said the findings came from analyzing publicly released AI model weights, identifying hardware-specific fingerprints left behind during initialization. Four models allegedly matched Nvidia’s Grace Blackwell systems, including GB200 and GB300 processors.

The researcher estimated that the largest training clusters involved 2,000 to 3,000 Blackwell GPUs each, potentially representing hundreds of millions of dollars in export-controlled hardware.

Huang’s AI Dealmaking Raised Red Flags Inside Nvidia, Says Report

Separately, a Wall Street Journal report revealed tensions between ousted Nvidia CEO Jensen Huang and CFO and current interim CEO, Colette Kress, over Nvidia’s aggressive financing commitments to AI companies.

During an August meeting, Huang reportedly interrupted Kress’s presentation, calling her “a deer in the headlights” and describing her as a “reporting CFO.”

The disagreement centered on Nvidia’s plans to provide billions of dollars in financial guarantees to AI cloud providers and data-center developers to help them purchase its chips.

One proposal involved a potential $250 billion financial backstop for OpenAI’s Ohio data center project. After the proposal rattled investors, Kress reportedly reworked the arrangement, cutting Nvidia’s initial commitment in half.

Huang also warned executives that major cloud providers were exploring alternative chips, while Nvidia faced an “avalanche” of chip wafers and memory it had already committed to purchasing.

By October, Huang was pushing customers to recognize the value of Nvidia’s products, telling cloud computing CEOs: “You are not establishing the value of my products.”

Wall Street Divided On Nvidia’s Future Without Jensen Huang

Yorkville Ives partner Dan Ives said the “writing is on the wall” for Huang. Ives sees the stock valued at $225 without Huang, compared with $300 if he remains CEO, calling the controversy a “black eye moment” that has created a “spider web of complexity” for the company.

Meanwhile, Burry warned of “key-man risk” at Nvidia, declaring “The Don has fallen,” while Deepwater Asset Management’s Gene Munster argued the chipmaker can thrive “with or without Jensen.” Munster maintained that Nvidia’s chips remain the “best bang for your buck,” adding that customers will continue seeking them regardless of who leads the company.

Price Action: Nvidia shares were down 1.38% in overnight trading on Thursday, according to Benzinga Pro data.

NVDA stock declined 4.34% at $166.19 on Thursday. The stock has fallen 26.57% over the past month.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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