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- CRWV, NBIS, IREN Bounce Overnight After Brutal Week — But Industry Execs Reportedly See Only A Few Neocloud Survivors
Shares of neocloud operators CoreWeave (CRWV), Nebius (NBIS) and IREN edged up overnight after a week of selling driven by doubts over business models and higher financing costs. CoreWeave had fallen more than 20% in the early part of the week before gaining 6% on Thursday, supported by Nvidia CEO Jensen Huang. According to The Information, industry executives expect only seven to ten of hundreds of neoclouds to survive, with Nvidia supporting them through easier credit terms and $20 billion in leases. Bloomberg reported that Nscale faces opposition to its $30 billion IPO valuation, while CoreWeave's unsecured debt due in 2032 fell below 80 cents on the dollar, a level widely seen as a sign of financial strain.
- America's $10 trillion AI data centre boom faces delays, rising costs and investor concerns
Data centre projects in America's $10 trillion AI infrastructure boom are facing delays, cancellations, blocks and weaker investor confidence. RegLayer counted at least 47 large projects delayed, withdrawn or blocked in 2026, while Bernstein estimated only about 35% of the planned US pipeline is credible. More than 1,000 communities have tried to introduce temporary bans or restrictions on AI infrastructure in 2026, and rising borrowing costs threaten financing for neocloud firms. CoreWeave's stock lost almost 25% in a week, and several IPOs, including SoftBank's SB Energy and Nvidia-backed Firmus, were delayed or shelved. Construction delays could let customers cancel: Cipher agreed to cover the first $359 million of cost overruns on a Texas project tied to Anthropic, and Anthropic could cancel its $45 billion Nscale agreement if targets are missed.
- CoreWeave 15% Bond Yield Is Not a Neocloud Problem. Here's Why I'm Buying Neocloud Stock Dips.
CoreWeave's bonds maturing in 2032 have seen yields rise to 15%, triggering panic in neocloud stocks and raising the cost of borrowing for its AI infrastructure. The author argues this is a CoreWeave-specific problem: the company leases its data centers rather than owning the land and power, so it faces margin pressure as costs rise, while Nebius and Iren own their facilities and could later borrow against them. CoreWeave's second-quarter revenue more than doubled year over year to $2.58 billion, but it held $5.5 billion in cash against $20.9 billion in total current liabilities and faces $10.6 billion of debt maturing by the end of 2027. Its current ratio of 0.46 compares with 3.08 for Nebius and 3.55 for Iren. The author says he has been buying neocloud stocks and sees Nebius and Iren as better positioned due to stronger balance sheets, cheaper financing options and revenue growth.
- CoreWeave 15 % Bond Yield Is Not a Neocloud Problem . Here Why Im Buying Neocloud Stock Dips .
CoreWeave (CRWV) sparked worries across the neocloud sector after yields on some of its bonds reached 15%, making it more expensive to borrow for future AI infrastructure. The author argues this is mainly a CoreWeave-specific issue, since the company leases its data centers rather than owning land and power like Nebius (NBIS) and Iren (IREN). CoreWeave's second-quarter revenue more than doubled to $2.58 billion, but it held $5.5 billion in cash against $20.9 billion in total current liabilities, a current ratio of just 0.46, and paid $640 million in interest in the quarter. By comparison, Nebius and Iren posted current ratios of 3.08 and 3.55 and have access to lower-rate financing options. The article concludes that CoreWeave faces greater financial pressure, while Nebius and Iren are better positioned in the sector.
- Higher for longer : why low rates are relics of the past
Mortgage holders should expect rates to stay higher for longer, as the RBA warns that competition for global capital from AI and data centre companies is lifting the neutral rate. Assistant governor Christopher Kent said there is reasonable evidence neutral rates are rising in Australia and abroad, and the 4.6% cash rate is the highest in 15 years. Markets almost fully price in another rise by mid-2027 and do not expect rates to fall below current levels by mid-2028, while the term premium has hit a 12-year high. CBA chief economist Luke Yeaman argued that heavy government and AI spending makes rates less effective, so the RBA would have to hit households harder, and warned that loose fiscal policy would force it to push rates higher still. Federal government spending reached 26.9% of GDP in 2025/26, the highest in 40 years excluding COVID-19, and HSBC's Paul Bloxham urged further cuts in the mid-year update due in December.
- Higher for longer : why low rates are relics of the past
The RBA's cash rate of 4.6% is the highest in 15 years, and markets almost fully price in another rate rise by mid-2027, with no cuts expected below current levels by mid-2028. The RBA says intense global competition for capital from AI and data centre companies is pushing up the neutral interest rate. Commonwealth Bank and HSBC economists argue that heavy government and AI-company spending makes rates less effective at reducing demand, and federal government spending reached 26.9% of GDP in 2025/26, the highest in 40 years excluding COVID-19. They urge the government to curb spending in its mid-year fiscal update expected in December, warning that otherwise the RBA will push rates harder. The term premium has climbed to a 12-year high, tightening financial conditions further.
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JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.
- Cerrado Gold Reports 21% Year-Over-Year Increase in Q3 2026 Production Results at Minera Don Nicolas
Cerrado Gold reported Q3 2026 production of 16,685 GEO at the Minera Don Nicolas (MDN) mine in Santa Cruz Province, Argentina, up 21% from 13,832 GEO in Q3 2025. Year-to-date output reached 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period. Heap leach output held steady at 9,649 GEO, while CIL output rose to 7,036 GEO as higher-grade Calandrias material, generally above 2.5 g/t gold, was routed to the Martinetas mill. Laboratory tests on selected material showed gold recoveries of up to 95%, versus about 60% expected from heap leaching, and the company now expects full-year 2026 production at the upper end of its 50,000 to 60,000 GEO guidance while targeting a new PEA by late Q1 2027.
- Is Visa Stock Still a Buy After Gaining 14% This Year?
Visa shares hit an all-time high of $401, up about 12% over the past two weeks from $359 at the end of September and up 14% year to date. Key catalysts include approval from the People's Bank of China to set up a bankcard clearing institution in China and the move of Visa Direct's stablecoin to commercial deployment on Oct. 15. Baird and BMO Capital both raised their price targets. Visa reports fiscal fourth-quarter earnings on Oct. 27 and has raised its dividend every year since 2009, last year by 14% to $0.67 per share. The author still considers the stock a buy ahead of earnings, citing a forward P/E of 24.
- Five things to watch in markets in the week ahead
Markets start the week with AI stocks under pressure after hotter-than-expected September inflation raised expectations of higher US rates and fed worries about debt-funded AI spending. Last week the Philadelphia semiconductor index fell 11.41% and the Nasdaq Composite lost 4.48%, with CoreWeave shedding about a quarter of its value and Oracle down 9.31%. Earnings are in focus, with SpaceX and Netflix reporting on Tuesday and Meta and Tesla on Wednesday after the close. Netflix reportedly plans to cut around 6% of its workforce, roughly 1,000 roles, its biggest reduction since 2022. SpaceX has also agreed to buy spectrum licenses from Grain Management for about $8 billion, a move into the wireless market.
- eMemory/PUFsecurity Showcases OCP S.A.F.E.-Approved PUFrt at OCP Global Summit, Strengthening AI Data Center Security with Caliptra
PUFsecurity, a subsidiary of eMemory Technology, was featured at Microsoft's Caliptra Workshop on Oct. 12, the opening day of the 2026 OCP Global Summit, which drew nearly 400 attendees. Its PUFrt received OCP S.A.F.E. Scope 3 approval after an independent assessment of its resistance to physical attacks such as fault injection and side-channel attacks, and is now listed on the OCP Marketplace. PUFrt provides the physical security foundation for Caliptra, an open-source hardware Root-of-Trust architecture, from key generation to chip mass-production testing. It has already been integrated into Caliptra products from ASPEED and security systems from several memory makers and networking chip vendors. The company says the milestone advances hardware security for cloud and AI infrastructure.
- Crypto vault deposits top $10 billion as lending risks draw regulatory scrutiny
Deposits into crypto lending vaults have risen from $4 billion at the start of last year to more than $10 billion, according to the Financial Times. Each vault is run by a 'curator' who selects lending strategies through smart contracts on DeFi platforms, sets risk limits and collects fees, with typical returns of 3% to 10% and riskier strategies reaching 20% or more. Risks include illiquid or hard-to-sell collateral, automatic liquidations, hacks and coding errors, while investors may focus on headline yields. Fintechs, digital asset treasury firms and hedge funds are among the main depositors, and Bitcoin lender Two Prime launched a vault on Pareto targeting 1.5% to 2% yields, with a minimum deposit of 5 WBTC and about $10 million of its own capital absorbing initial losses. U.S. and European regulators are examining whether existing rules should apply, and the SEC has questioned vaults that hold securities.
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