Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Tuesday, November 11th, and I'm your host, Kim Kahn. Our top story so far,

footsteps continue to echo in meta's AI halls, coming and going. This time, its chief artificial intelligence scientist and cheering award winner, Yon Leco,

heading for the exit.

The Financial Times reports he plans to leave the company to launch his own startup,

now in early fundraising talks and focused on advancing world models.

His departure comes as Mark Zuckerberg overhauls Meta's AI strategy to compete more

aggressively with OpenAI and Google. After concluding Meta had fallen behind key rivals, Zuckerberg

has shifted emphasis from long-term research at the company's Fundamental AI Research Lab, led by Lecon since

2013, toward faster deployment of commercial models and products.

Over the summer, he brought in Alexander Wang to run a new Super Intelligence Division,

spending $14.3 billion to hire the 28-year-old founder of Scale AI

and acquire a 49% stake in his company.

Meanwhile, Big Short investor Michael Burry continues to wage his own fight against the AI trade, this time targeting hyperscalor accounting.

Burry argues that major cloud and AI infrastructure firms are artificially inflating profits by extending the useful life of their chips and servers,

spreading depreciation over longer periods to make earnings look stronger.

He calls it one of the most common frauds of the modern era.

Bury estimates those adjustments could understate depreciation by a cumulative $176 billion

between 2026 and 28, with Oracle and meta, each overstating earnings by more than 20%.

He says a release more details on November 25th.

Last week, his fund Scion asset management disclosed barest positions in NVIDIA and Palantir,

extending his challenge to what he calls the AI Euphoria.

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