Nvidia boss Jensen Huang has told Sky News the AI sector is a “long, long way” from a Big Short-style collapse.

Speaking outside Downing Street following a roundtable with government and other industry figures, the head of the world’s first $5tn company defended his sector from criticism by investor Michael Burry.

Mr Burry and his firm, Scion Capital, gained notoriety for “shorting” – betting against – the US housing market ahead of the 2008 financial crash.

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He was portrayed by Christian Bale in the 2015 film The Big Short, which also starred Steve Carell, Brad Pitt and Ryan Gosling.

Earlier this week, filings revealed Mr Burry has now bet against Nvidia and on social media, he has suggested there is a bubble in the sector.

Some $500bn was wiped off technology stocks overnight Tuesday into Wednesday, Bloomberg reported.

Speaking to Sky News, Mr Huang said: “I would say that we’re in the beginning of a very long build out of artificial intelligence.”

Defending his company and investment, Mr Huang said AI is the first technology that requires “infrastructure to be built” and that Nvidia has seen “great returns” from AI, and that is why it is expanding.

Mr Huang said better training of AI has led to much “better” and “useful” answers, and that means “the AIs have become profitable”.

“When something is profitable, the suppliers want to make more of it, and that’s the reason the infrastructure build out is accelerating,” he added.

Pushed on whether he was worried about a situation like the Big Short, Mr Huang said: “We are long, long away from that.”

The UK government is betting big on AI in the hopes that it can save money by using it and generate growth by building the infrastructure to back it up.

Asked if she was worried about the market, Technology Secretary Liz Kendall told Sky News: “I have no doubts that AI is going to transfer all parts of our economy and our public services.”

Mr Burry and his firm, Scion Capital’s bets against Nvidia and other companies were revealed by regulatory filings earlier this week.

The investor also posted on social media for the first time in more than two years, warning of a bubble.

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Concerns have been raised about the market surrounding AI, and the growth many companies are experiencing.

Nvidia is the largest producer of the specialist computer chips that are used to train and use AI models.

New York has followed London by choosing hope over fear in electing Democrat Zohran Mamdani as its new mayor, Sir Sadiq Khan said.

Mr Mamdani, 34, defeated former New York governor Andrew Cuomo and Republican Curtis Sliwa to become the city’s first Muslim mayor and the first of South Asian heritage.

London mayor Sir Sadiq drew comparisons to his own 2016 victory as he congratulated Mr Mamdani, who will become New York’s youngest mayor in more than a century when he takes office on 1 January.

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Sir Sadiq called it a “historic campaign”, adding on X: “New Yorkers faced a clear choice – between hope and fear – and just like we’ve seen in London – hope won.”

Education Secretary Bridget Phillipson also congratulated Mr Mamdani, telling Sky News: “I wish him well.

“It’s a wonderful job to have secured.”

Green Party leader Zack Polanski said Mr Mamdani’s success “will resonate throughout the world” as he called it a “story where no one is left behind”.

“It’s time to write that story across England and Wales too,” he added.

Mr Mamdani’s victory was a setback for Donald Trump, who had thrown his weight behind Andrew Cuomo, a former Democrat running as an independent.

The mayor-elect described himself as “Trump’s worst nightmare” and said New York had shown “a nation betrayed by Donald Trump how to defeat him”.

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The US president had threatened to cut federal funding to New York if Mr Mamdani won.

In his victory speech, Mr Mamdani said: “New York will remain a city of immigrants, a city built by immigrants, powered by immigrants and as of tonight, led by an immigrant.

“If anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him.”

Another foreign prisoner is on the run after being mistakenly released, Sky News has learnt.

The error at HMP Wandsworth in south London happened on 29 October – just five days after the high-profile release of migrant sex offender Hadush Kebatu from HMP Chelmsford in Essex.

It was also two days after Deputy Prime Minister and Justice Secretary David Lammy announced enhanced checks on prisoner releases.

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The Metropolitan Police confirmed to Sky News: “Shortly after 1pm on Tuesday 4 November, the Met was informed by the Prison Service that a prisoner had been released in error from HMP Wandsworth on Wednesday 29 October.

“The prisoner is a 24-year-old Algerian man.

“Officers are carrying out urgent enquiries in an effort to locate him and return him to custody.”

Sky News understands the prisoner was serving time for trespass with an intent to steal but has previously committed sexual offences.

It is understood he is not an asylum seeker.

‘Utterly unacceptable’

It is not yet clear why it was nearly a week between the latest release at Wandsworth and the police being informed that an offender was at large.

Sir Keir Starmer was not aware of the incident until the Met Police announcement, Downing Street said.

The prime minister’s spokesman told reporters: “The Met have released a statement I think in the last few minutes.”

He said “one mistaken release is one too many” and the case was “utterly unacceptable”.

“It’s important the police are given the time and space to bring him back into custody. And we will look into the circumstances behind this as a matter of urgency,” he added.

The PM’s spokesman could not say when Mr Lammy became aware of the error, after the cabinet minister refused to answer several questions in the House of Commons on the incident from the shadow defence secretary.

Tory leader Kemi Badenoch wrote on X: “James Cartlidge asked the Deputy PM FIVE times to tell us if ANOTHER migrant sex offender had been accidentally released from prison.

“Instead of answering, Lammy lost his temper.

“Now we read it HAS happened again & he’s been on the run for a week.

“This is a shambles of a government.”

Lammy ‘outraged and appalled’

Sky News understands Mr Lammy did know about the prisoner release before he stood up in the Commons and was pressed on the issue by the Conservatives.

“If we knew, one can only assume the justice secretary knew,” a spokesman for Ms Badenoch said, adding Mr Lammy should come back to the chamber “and do a statement as soon as possible”.

Mr Lammy said afterwards he was “absolutely outraged and appalled by the mistaken release of a foreign criminal wanted by the police”, adding his “officials have been working through the night to take him back to prison”.

“Victims deserve better and the public deserve answers,” he said.

It is understood Mr Lammy believed it would have been irresponsible to talk about the case – involving several agencies – while details were still emerging.

Reform UK leader Nigel Farage posted on social media: “Another dangerous criminal is on the loose thanks to Labour. What a total farce.”

The numbers of these types of errors has risen recently, with 262 instances between March 2024 and March 2025.

The Conservatives described the Kebatu episode as a “national embarrassment”.

Read more: How many prisoners are released by mistake?

In the aftermath of the Kebatu manhunt, Mr Lammy promised “the strongest release checks that have ever been in place”.

He also ordered an independent investigation into the Kebatu release, which is being led by former Deputy Commissioner of the Met Police Dame Lynne Owens.

“This latest incident exposes deeper flaws across the failing criminal justice system we inherited,” Mr Lammy added in his statement on Wednesday on the HMP Wandsworth error.

“Dame Lynne Owens’ investigation will leave no stone unturned to identify these issues, so we can fix them, improve safeguards and ensure the public is properly protected.”

‘Dangerous situation’

The Liberal Democrats’ justice spokesperson Jess Brown-Fuller said: “Just when you couldn’t think things could get any worse for the Ministry of Justice, somehow they have. It would be laughable if the situation weren’t so dangerous.

“This is yet another grave mistake from the government. The public deserves a full explanation about how this has happened again. That should start with David Lammy coming back before Parliament this afternoon for why he failed to answer this pressing question in PMQs as well as a full explanation of how it took almost a week for this to come to light.

“It’s utterly unacceptable that public safety has been put at risk yet again. Both the government and the Prison Service must own up to their failures and guarantee that these mistakes will stop happening once and for all.”