On Monday, the main neocloud stocks fell, following Elon Musk's statement that more than 200 companies in the industry might go bankrupt.
Nebius, CoreWeave, and Iren all fell by more than 4% in pre-market trading, putting further pressure on the industry. Investors were already concerned about whether the industry's debt-driven expansion and large-scale AI infrastructure construction would be profitable.
On Sunday, Musk posted on X, stating: "Over the past few weeks, the debt market has almost completely cut off any funding channels for companies that do not have a substantial amount of revenue from AI-independent data centers."
He added, "This means that more than 200 neocloud companies will face a fate similar to that of small fish, which is death and integration. Some companies will survive, but not many."
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