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Neocloud Stocks Recover From Musk Warning as Bonds Hit Lows
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26.10 09:56 UTC
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Musk warns 200 neoclouds could collapse as stocks tumble
In a post on X on Sunday, Musk said debt markets have nearly shut off financing to any company that lacks substantial revenue outside of AI data centers.
He predicted that more than 200 so-called neoclouds will see heavy consolidation and failures, though some will survive.
Shares of several AI cloud computing companies slid in premarket trading today, after Elon Musk warned that the sector could face a wave of failures as lenders pull back.
Gartner has said 80% of neocloud providers could cease independent operations in the coming years.
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