---
title: "\"The Big Short\" Barry compared NVIDIA to an American radio company nearly a century ago, whose stock price once plummeted 98% from its peak"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/276700921.md"
description: "Famous investor Michael Burry compared the AI wave led by NVIDIA to the radio boom of the 1920s, suggesting that a similar boom and bust could occur. He mentioned that although radio technology continued to develop, RCA's stock price plummeted by 98% in the early 1930s. Burry questioned whether large-scale AI-related capital expenditures could be sustained without harming corporate finances and asked when the investment in AI data center construction would stop"
datetime: "2026-02-24T07:56:56.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/276700921.md)
  - [en](https://longbridge.com/en/news/276700921.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276700921.md)
---

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# "The Big Short" Barry compared NVIDIA to an American radio company nearly a century ago, whose stock price once plummeted 98% from its peak

Michael Burry, a well-known American investor and the inspiration behind "The Big Short," stated that the current wave of artificial intelligence led by NVIDIA may exhibit a boom-and-bust pattern similar to that of the radio boom in the 1920s.

Last weekend, Burry compared the current AI craze to the speculative frenzy surrounding the Radio Corporation of America (RCA) nearly a century ago.

"In the 1920s, the enthusiasm for radio was almost entirely focused on one stock, which was RCA," Burry wrote on X.

He pointed out that although radio technology continued to develop over the following decades, the company's stock price plummeted by about 98% in the early 1930s.

"Even if you predicted that radio technology would dominate for half a century, investing in RCA would have resulted in losses," he added, along with a hashtag related to NVIDIA.

In the 1920s, RCA's stock price soared nearly 200 times—one of the most astonishing increases in market history.

However, after peaking in 1929, the stock began to decline, crashing from $114.75 in September 1929 to $2.625 in May 1932—a drop of as much as 98%.

Over time, RCA gradually regained its vitality, eventually surpassing its 1929 peak price. After a 3-for-1 stock split, its stock price once reached $66. The company was ultimately acquired by General Electric in 1986.

Earlier that day, Burry also raised the question of whether large-scale capital expenditures related to artificial intelligence could continue without harming corporate finances.

He cited several companies, including Microsoft, Meta, Alphabet, and Amazon, and asked, "When will the investment in AI data center construction really stop?"

He pointed out that investments in AI infrastructure are consuming cash flow and increasing borrowing levels.

Burry wrote, "You are borrowing and financing in ways never seen before." He questioned whether companies are adjusting their accounting practices to alleviate profit pressures

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