Elon Musk says debt markets have shut out neoclouds and few will survive

Shares in CoreWeave, Nebius and Iren fell in early trading on Monday after Elon Musk wrote that most neoclouds will not survive. All three rebounded later in the day, as Arjun Kharpal reported for CNBC. Neoclouds rent out AI computing power, mostly Nvidia chips, to other companies.