After issuing a "Yikes" on the finances of neocloud play CoreWeave (CRWV) earlier this month, Elon Musk is out with a more brutal hot take on the entire industry. Some "200+" neoclouds are going to see "guppy-level death and consolidation," Musk warned in a new post on X. Musk said debt markets are hesitant to finance any company that relies almost entirely on AI data centers for sales. SpaceX has secured $40 billion in debt to buy GPUs, Musk added. The funding is backed by better businesses such as Starlink, Musk explained. Shares of CoreWeave and Nebius (NBIS) fell 2.7% and 3.5% in pre-market trading on Monday on Musk's comments. Two factors have collided here for neoclouds that have sent the space into a mini tailspin this month.
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