huh that's crazy. And it's because the hyperscalers aren't really showing any payoff for their AI investments? And there're concerns about the money not being there to justify all of this investment in AI data centers? Oh and the neoclouds are unstable too? That's crazy man. News to me
October 30, 2026 at 7:55 PM
huh that's crazy. And it's because the hyperscalers aren't really showing any payoff for their AI investments? And there're concerns about the money not being there to justify all of this investment in AI data centers? Oh and the neoclouds are unstable too? That's crazy man. News to me
This would be a dispute mediated by capital. Possibly by a handful of specific lenders.
The neoclouds are not winning that dispute.
The neoclouds are not winning that dispute.
October 31, 2026 at 12:04 AM
This would be a dispute mediated by capital. Possibly by a handful of specific lenders.
The neoclouds are not winning that dispute.
The neoclouds are not winning that dispute.
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
The amount of debt held by data centres is measured in the tens of billions of pounds.
www.bbc.co.uk
November 1, 2026 at 2:55 AM
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
when every crypto broker gets hacked, we can finally rotate the Formula1 sponsors to AI neoclouds
October 30, 2026 at 2:49 PM
when every crypto broker gets hacked, we can finally rotate the Formula1 sponsors to AI neoclouds
The most obviously true version of it is that Nvidia is propping up all the neoclouds such that the neoclouds can exist. The surface area these companies drive up the perceived demand of Nvidia. This also creates a stronger position for Nvidia against the hyperscalers.
October 30, 2026 at 5:11 PM
The most obviously true version of it is that Nvidia is propping up all the neoclouds such that the neoclouds can exist. The surface area these companies drive up the perceived demand of Nvidia. This also creates a stronger position for Nvidia against the hyperscalers.
it's really good that all the "where's the moat, you just need money" arguments don't extend to neoclouds
October 31, 2026 at 3:18 AM
it's really good that all the "where's the moat, you just need money" arguments don't extend to neoclouds
The funding of hyper-scaled #AI systems resembles a Ponzi scheme. www.bbc.co.uk/news/article...
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
The amount of debt held by data centres is measured in the tens of billions of pounds.
www.bbc.co.uk
November 1, 2026 at 9:10 AM
The funding of hyper-scaled #AI systems resembles a Ponzi scheme. www.bbc.co.uk/news/article...
Sources: neoclouds CoreWeave, Nebius, and Nscale have effectively been shut out of the bond market in recent weeks as lenders and investors demand tougher terms (Wall Street Journal)
Main Link | Techmeme Permalink
Main Link | Techmeme Permalink
October 31, 2026 at 5:15 AM
Sources: neoclouds CoreWeave, Nebius, and Nscale have effectively been shut out of the bond market in recent weeks as lenders and investors demand tougher terms (Wall Street Journal)
Main Link | Techmeme Permalink
Main Link | Techmeme Permalink
Laying out Anthropic's compute deals over time makes clear how much they have had to shift from established hyperscalers to precarious neoclouds
October 30, 2026 at 9:51 AM
Laying out Anthropic's compute deals over time makes clear how much they have had to shift from established hyperscalers to precarious neoclouds
MUSK: “.. the 200+ neoclouds are going to see guppy-level death ..”
October 25, 2026 at 10:50 PM
MUSK: “.. the 200+ neoclouds are going to see guppy-level death ..”
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst share.google/B9voyntqYvXH...
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
The amount of debt held by data centres is measured in the tens of billions of pounds.
share.google
November 1, 2026 at 7:22 AM
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst share.google/B9voyntqYvXH...
CreditSights: “Compute is still scarce today, but as Big Tech brings massive owned capacity online, the highly levered neoclouds risk becoming the dark fiber of this cycle, and the scare begins when the first one blinks and cuts capex.” www.bloomberg.com/news/article...
October 31, 2026 at 4:12 PM
CreditSights: “Compute is still scarce today, but as Big Tech brings massive owned capacity online, the highly levered neoclouds risk becoming the dark fiber of this cycle, and the scare begins when the first one blinks and cuts capex.” www.bloomberg.com/news/article...
Some data points I would point to pointing towards a “downshift not crash” scenario *at the margin*
- #$ANT S-1
- #$SKHY & Samsung results
- Prints from companies like #$VRT, #$GEV, #$ASML, #$ATEYY
- Hyperscaler earnings (#$META, #$GOOGL, #$MSFT)
- Skepticism over neoclouds (#$CRWV especially)
- #$ORCL guide
- #$ANT S-1
- #$SKHY & Samsung results
- Prints from companies like #$VRT, #$GEV, #$ASML, #$ATEYY
- Hyperscaler earnings (#$META, #$GOOGL, #$MSFT)
- Skepticism over neoclouds (#$CRWV especially)
- #$ORCL guide
October 29, 2026 at 7:10 PM
Some data points I would point to pointing towards a “downshift not crash” scenario *at the margin*
- #$ANT S-1
- #$SKHY & Samsung results
- Prints from companies like #$VRT, #$GEV, #$ASML, #$ATEYY
- Hyperscaler earnings (#$META, #$GOOGL, #$MSFT)
- Skepticism over neoclouds (#$CRWV especially)
- #$ORCL guide
- #$ANT S-1
- #$SKHY & Samsung results
- Prints from companies like #$VRT, #$GEV, #$ASML, #$ATEYY
- Hyperscaler earnings (#$META, #$GOOGL, #$MSFT)
- Skepticism over neoclouds (#$CRWV especially)
- #$ORCL guide
These firms you've never heard of are feeding fears the AI bubble could burst. 🧪 www.bbc.co.uk/news/article...
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
The amount of debt held by data centres is measured in the tens of billions of pounds.
www.bbc.co.uk
November 1, 2026 at 5:18 PM
These firms you've never heard of are feeding fears the AI bubble could burst. 🧪 www.bbc.co.uk/news/article...
‘Susquehanna has fielded interest from data centers and privately held neoclouds seeking to hedge their exposure to semiconductor chips. If compute prices sank because of decreased demand or increased supply, the trades would pay out.’ www.wsj.com/finance/stoc...
November 1, 2026 at 5:13 PM
‘Susquehanna has fielded interest from data centers and privately held neoclouds seeking to hedge their exposure to semiconductor chips. If compute prices sank because of decreased demand or increased supply, the trades would pay out.’ www.wsj.com/finance/stoc...
Feels like the hyperscalers are trying to put the neoclouds out of business by absorbing all the capital for datacenters
November 2, 2026 at 12:43 PM
Feels like the hyperscalers are trying to put the neoclouds out of business by absorbing all the capital for datacenters
Interesting that he’d post this. Wonder if he’s trying to hurt the other neoclouds.
October 25, 2026 at 8:56 PM
Interesting that he’d post this. Wonder if he’s trying to hurt the other neoclouds.
If the AI bubble has indeed begun to pop, a class of companies known as the neoclouds might be to blame. Sometimes referred to as the middlemen of AI, neoclouds primarily rent out access to the specialized computer chips, or GPUs, that help power behemoths like Amazon, Meta and Microsoft.
Why everyone is talking about neoclouds — the canaries of the AI boom
The middlemen of AI are setting off alarm bells for investors who are concerned they’ve taken on too much debt without the steady revenues to pay it down.
nbcnews.to
October 27, 2026 at 9:00 AM
If the AI bubble has indeed begun to pop, a class of companies known as the neoclouds might be to blame. Sometimes referred to as the middlemen of AI, neoclouds primarily rent out access to the specialized computer chips, or GPUs, that help power behemoths like Amazon, Meta and Microsoft.
But it's been projected to this idea that the entire industry is doing this. It's simply isn't. At least the effects that exist are not at a scale that matters the way it does for Nvidia and the neoclouds which are heavily leveraged.
October 30, 2026 at 5:12 PM
But it's been projected to this idea that the entire industry is doing this. It's simply isn't. At least the effects that exist are not at a scale that matters the way it does for Nvidia and the neoclouds which are heavily leveraged.
Mostly with the hyperscalers, but those companies can mostly take more of the labs’ equity in exchange. The neoclouds cannot
November 1, 2026 at 3:30 AM
Mostly with the hyperscalers, but those companies can mostly take more of the labs’ equity in exchange. The neoclouds cannot
Incomplete thoughts:
Big Tech and the neoclouds (GPU-as-a-Service) have a combined debt of about $600B. Neoclouds own 10% of it. All critically depend on continuous borrowing.
Sounds like lenders have had enough with neoclouds.
Neoclouds crumble. OAI, Anthropic, Google, MS: all AI work collapses.
Big Tech and the neoclouds (GPU-as-a-Service) have a combined debt of about $600B. Neoclouds own 10% of it. All critically depend on continuous borrowing.
Sounds like lenders have had enough with neoclouds.
Neoclouds crumble. OAI, Anthropic, Google, MS: all AI work collapses.
October 27, 2026 at 4:28 AM
Incomplete thoughts:
Big Tech and the neoclouds (GPU-as-a-Service) have a combined debt of about $600B. Neoclouds own 10% of it. All critically depend on continuous borrowing.
Sounds like lenders have had enough with neoclouds.
Neoclouds crumble. OAI, Anthropic, Google, MS: all AI work collapses.
Big Tech and the neoclouds (GPU-as-a-Service) have a combined debt of about $600B. Neoclouds own 10% of it. All critically depend on continuous borrowing.
Sounds like lenders have had enough with neoclouds.
Neoclouds crumble. OAI, Anthropic, Google, MS: all AI work collapses.
More Ai panic ...
(Like we never saw it coming)
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst share.google/8GMr4Nh17qew...
(Like we never saw it coming)
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst share.google/8GMr4Nh17qew...
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst
The amount of debt held by data centres is measured in the tens of billions of pounds.
share.google
November 1, 2026 at 6:07 PM
More Ai panic ...
(Like we never saw it coming)
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst share.google/8GMr4Nh17qew...
(Like we never saw it coming)
Neoclouds: These firms you've never heard of are feeding fears the AI bubble could burst share.google/8GMr4Nh17qew...
again, was his point that the cost of borrowing would increase for the neoclouds? no, it was the the whole thing would go down in flames and take down the economy lol
October 30, 2026 at 3:09 PM
again, was his point that the cost of borrowing would increase for the neoclouds? no, it was the the whole thing would go down in flames and take down the economy lol
So, we think the hyperscalers, neoclouds and labs were all discounting. But now that bond rates are rising, the companies can’t afford to discount. so the prices could whiplash higher, where both discounts expire together.
November 2, 2026 at 8:26 AM
So, we think the hyperscalers, neoclouds and labs were all discounting. But now that bond rates are rising, the companies can’t afford to discount. so the prices could whiplash higher, where both discounts expire together.
He is playing an unending shell game based on the presumption that they lose money on inference. Like if Anthropic is profitable it’s because the neoclouds are unprofitable on the compute they sell. And if the neoclouds are profitable it’s because of circular funding from Nvidia.
October 30, 2026 at 9:30 AM
He is playing an unending shell game based on the presumption that they lose money on inference. Like if Anthropic is profitable it’s because the neoclouds are unprofitable on the compute they sell. And if the neoclouds are profitable it’s because of circular funding from Nvidia.