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After Musk said that over 200 neocloud companies are facing 'death similar to that of small fish', related stocks fell
CNBC
1h ago
Ai Focus
On Monday, the main neocloud stocks fell. Musk posted on X stating that over 200 companies in this industry could go bankrupt, and mentioned that the debt market has almost closed off financing channels for companies that do not have substantial revenue independent of AI data centers. Nebius, CoreWeave, and Iren all fell by more than 4% so far.
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On Monday, the main neocloud stocks fell, following Elon Musk's statement that more than 200 companies in the industry might go bankrupt.

Nebius, CoreWeave, and Iren all fell by more than 4% in pre-market trading, putting further pressure on the industry. Investors were already concerned about whether the industry's debt-driven expansion and large-scale AI infrastructure construction would be profitable.

On Sunday, Musk posted on X, stating: "Over the past few weeks, the debt market has almost completely cut off any funding channels for companies that do not have a substantial amount of revenue from AI-independent data centers."

He added, "This means that more than 200 neocloud companies will face a fate similar to that of small fish, which is death and integration. Some companies will survive, but not many."

This is breaking news. Please check for updates later.

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