Update
Elon Musk Predicts Consolidation Among Neocloud Providers
Elon Musk predicts that tough debt markets will lead to consolidation among neocloud providers, with only a few companies likely to survive. The top five publicly listed neoclouds carry a combined $61 billion in debt, up from $18 billion in operating leases. CoreWeave, the largest neocloud provider, has negative GAAP earnings and is under pressure from rising unsecured bond yields, causing its stock to fall more than 15%.