Why One Trader is Betting Against AI's Hottest Stocks

Dimitri Semenikhin, the trader who made waves with the Beyond Meat short-squeeze of 2025, is now setting his sights on three AI titans. But don't expect bullish sentiment this time around. Instead, Semenikhin is betting against some of the biggest winners in the AI stock market.

The Targets: AMD, Nebius, and Bloom Energy

In a bold move, Semenikhin announced on social media platform X that he's shorting Advanced Micro Devices (AMD), Nebius Group, and Bloom Energy. These aren't just any stocks. Each has shown staggering growth in 2026, with Nebius up 167%, AMD soaring 121%, and Bloom Energy surging 202%.

The heart of the matter? Semenikhin argues that the market has overestimated future demand for AI infrastructure, especially power consumption. "Right now, valuations assume an unrealistic spike in demand," he stated. It's a classic case of runaway expectations.

Betting Against the Crowd

At first glance, Semenikhin's position seems counterintuitive. Nebius, a full-stack AI infrastructure provider, sits at the center of the AI revolution. Then there's Bloom Energy, which has become a darling among investors, including those at a hedge fund led by former OpenAI researcher Leopold Aschenbrenner. Yet, Semenikhin isn't swayed. He points out that he once held a long position in Nebius, but the current hype makes it a poor investment choice.

Even AMD, which surpassed Wall Street's Q1 earnings expectations, doesn't impress him. Analysts have rushed to hike price targets, yet Semenikhin remains skeptical, suggesting that the industry's hardware component is overvalued. The gap between the keynote and the cubicle is enormous.

Why Should We Care?

Why should this matter to anyone not day-trading? Because this is a litmus test of our AI optimism. Are we in a bubble? Semenikhin seems to think so, predicting that AI systems will eventually become more efficient, reducing the anticipated power crunch. The real story here's about sustainability and realistic growth projections.

Could Semenikhin's gamble signal a broader correction in AI stocks? It's a possibility investors should consider, especially given his knack for timing market shifts. The press release said AI transformation. The employee survey said otherwise. So, is it time to reevaluate the AI hype and its sustainability?