CoreWeave, Nebius and IREN Stocks Fall After Elon Musk Neocloud Debt Warning

TLDR CoreWeave, Nebius and IREN fell about 2.5% in Sunday overnight trading and more than 4% in Monday premarket. Elon Musk said debt markets have shut off money for firms without substantial revenue outside AI data centers. Musk predicted that more than 200 neoclouds face “guppy-level death and consolidation.” CoreWeave, Nebius and IREN each lost between 33% and 39% in October. Analysts still rate all three stocks as buys, with price targets well above Friday’s closing prices. Shares of CoreWeave, Nebius and IREN fell after Elon Musk warned that many neocloud companies could fail. The three stocks dropped about 2.5% in Sunday overnight trading. They fell more than 4% in premarket trading on Monday. CoreWeave, Inc. Class A Common Stock, CRWV Musk posted his warning on X on Sunday.

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