Pretty much.
As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.
SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue.
That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.
BREAKING: President Trump announces that the US will not strike Iran today.
The announcement comes just 48 hours after President Trump said the US “may have to do another operation against Iran.”
US stock market futures open in less than 5 hours.