Paul Singer's Elliott Management bets against Nvidia after calling it a 'bubble' and saying AI is 'overhyped'
1. Elliott Management took significant short positions against Nvidia via put options. 2. The firm believes Nvidia's stock is in a 'bubble' and AI is 'overhyped.' 3. Elliott has about $600 million in downside exposure to Nvidia. 4. Put options on the QQQ and S&P 500 ETFs also involve Nvidia indirectly. 5. Nvidia stock value remains high after a past 100% increase.