Comment by stingraycharles
1 day ago
Wasn’t Elon Musk shouting a few days ago that neoclouds are going to crash, the money dried up and that SpaceX was the last company with the opportunity to raise more money?
I think you’re giving Musk too much credit.
Neoclouds aren't Anthropic, OpenAI, and SpaceX. People aren't going to re-value value SpaceX on CoreWeave's success.
SpaceX will be re-valued on Anthropic's, or OpenAI's success, he, and his people are smart enough to understand this.
Didn't SpaceX partially admit they're a neocloud in their S-1?
They do have their own segment that is considered neocloud (data centers for compute), but they're mostly/fully used up with their own, and Anthropic's compute.
When he was talking about neoclouds, he was talking about the smaller guys who are getting bullied by vendors (mainly Nvidia) to buy as much hardware as possible (more than they want to). They paid more, for more, and needed to take on more debt, to end up (currently anyways) being well below capacity.
Over the next few years, unless growth keeps up (and probably accelerates), they'll need to sell, or restructure.
The buildouts by Microsoft, Google, Meta, OpenAI, and Anthropic are currently safe. The neoclouds that they've signed contracts with, are safe, but based on reports, that's roughly 60% of current capacity (it varies by report, but they're all under 75%).
He specifically said that lender money dried up for neocloud companies that don't have other sources of income
SpaceX obviously has multiple sources of income, not just data center rents
True, but there are other people working at the companies that probably own stock in both their own company and some of the others...if you believe that this is the future, you'd be a fool to buy non-AI tech stocks, right?
Somebody doesn’t want anybody to have a bigger IPO than them.