Technology · 5 hours ago
Musk warns 200+ AI cloud firms face 'guppy-level death'.
Wcamp9 via Wikimedia Commons (CC-BY-4.0)
Elon Musk has warned that more than 200 so-called neocloud companies, which rent out computing power for artificial intelligence, face a "guppy-level death" as lenders stop funding them. He said only a few would survive. Shares in CoreWeave, Nebius and Iren fell after his post on X, adding to a month of heavy losses. Investors are increasingly worried about the sector's debt-fuelled spending on chips.
Reported by CNBC · How we write briefs