"The Big Short" Michael Burry is once again bearish on NVIDIA, pointing out that AI chip company Etched is a formidable competitor. The performance of Etched's chips is claimed to be 10 times better and at a lower cost, with about 15% of its employees coming from NVIDIA. On August 18, Etched completed a $700 million funding round, reaching a valuation of $21 billion, and its chips took only 44 days from design to operation.