Wall Street Journal ·

Neoclouds CoreWeave, Nebius, and Nscale have effectively been shut out of the bond market in recent weeks as lenders and investors demand tougher terms

Lenders and investors are getting choosier about their bets and demanding stricter terms, as the AI build-out enters a new phase

In this story CoreWeave Nebius Nscale

Neoclouds CoreWeave, Nebius, and Nscale have effectively been shut out of the bond market in recent weeks as lenders and investors demand tougher terms

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Wall Street Journal — Neoclouds CoreWeave, Nebius, and Nscale have effectively been shut out of the bond market in recent weeks as lenders and investors demand tougher terms ↗

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Oct 31Nov 2

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Financial Times: Nvidia is in early-stage talks with insurance companies to structure risk-mitigation products to protect lenders against loan defaults by neoclouds

CNBC: CoreWeave closed down 15.5% as yields on its bonds near 15% amid concern over tech companies' heavy AI borrowing; Oracle dropped 8.8%, Nebius 10%, Dell 11.3%

Bloomberg: A CoreWeave-tied data center raised $1.1B in junk bonds at 98.5 cents on the dollar to yield 9.25%, ~2.7 percentage points above similarly rated debt

Forbes: Neocloud Fluidstack closed a $1.5B round led by Jane Street at an $18B+ valuation; in July, the startup announced a $750M round at a $7.5B valuation

CTech: Nasdaq-listed neocloud Nebius acquires Inferize, whose tech helps optimize GPU utilization and reduce AI request costs, sources say for $100M to $150M

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