SpaceX CEO Elon Musk attends a press briefing held by President Donald Trump with AI executives following a gathering on synthetic intelligence, exterior the West Wing of the White Home in Washington, Sept. 29, 2026.
Finn Gomez | Getty Pictures
Shares of main neocloud shares fell on Monday after Elon Musk mentioned that greater than 200 firms within the sector might collapse.
Nebius, CoreWeave and Iren all dropped greater than 4% in premarket buying and selling, including stress to a sector already dealing with investor issues about debt-fueled enlargement and whether or not the big AI infrastructure buildout will generate returns.
“As of the previous few weeks, debt markets have virtually totally shut off entry to cash for any firm that does not have substantial income unbiased of AI knowledge facilities,” Musk mentioned on a put up on X on Sunday.
“Which means the 200+ neoclouds are going to see guppy-level loss of life and consolidation. Some will make it by way of, however not many,” he added.
This can be a breaking information story. Please examine again for extra.
