[DEVELOPING] Neocloud stocks slide after Applied Digital CEO says ~800 MW of capacity still needs financing
On CNBC's Squawk on the Street, Applied Digital CEO Wes Cummins discussed AI data-center financing against the backdrop of Elon Musk's 'guppy-level death' prediction for neoclouds. 24/7 Wall St. reported he said about 800 MW still needs financing over the next 12 months. APLD fell about 8%, and Nebius, CoreWeave and IREN each fell roughly 6% in afternoon trading, with the page's ticker widget later showing declines of about 8%. Coming the same day as Oracle's $20B raise, the moves add to the AI-capex credit-tightening theme. Nebius's Q3 report on Nov 12 is the next sector print.