It should never cease to amaze the power of the world's richest person Elon Musk to move a stock or sector with a single word. Recall, a week ago the rise in yields on CoreWeave's (CRWV) bonds spurred Musk to post "Yikes" on X in response to a post by venture capitalist Chamath Palihapitiya. You never want to see Musk say "yikes" on anything related to CoreWeave — or anything more broadly. The word helped fuel a rout in shares of CoreWeave and other neocloud stocks such as Nebius (NBIS). Musk was back on SpaceX's (SPCX) earnings call late Tuesday with a different word, a bone thrown to the neocloud bulls if you will: "ridiculous." That is, talk of excess capacity on the AI infrastructure front is ridiculous given the demand being seen for the tech.
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