[DEVELOPING] Neocloud credit stress puts Nvidia's role as AI financier under scrutiny; Friday trading calmer
CNBC reported on Oct 24 that CoreWeave, Nebius and IREN are each down at least 30% in October, that CoreWeave's credit default swap spread is above 11%, and that this is the first big test of Nvidia's role as an AI financier. Jensen Huang said neocloud demand is strong but capital is scarce. CNBC's Oct 23 report also tied the turmoil to SK Hynix pulling the Solidigm IPO. Reuters reported on Oct 23 that Friday was quieter: large AI names were mixed, chip stocks mostly rose after Thursday's slump, and AI-player CDS mostly eased slightly. Next week's cloud-hyperscaler earnings and neocloud credit spreads are the next data points.