Neocloud: This wall on the verge of collapse—Jensen Huang is propping it up, while Musk is pushing it down.

Jensen Huang is still struggling to prop up the Neocloud wall, while Musk has already predicted its collapse. The first domino in the AI bubble may well be among these companies. On October 25, Musk issued a warning on X: in recent weeks, the debt markets have virtually stopped extending financing to firms that lack substantial revenue streams beyond their AI data centers. He forecast that more than 200 Neocloud players will face “guppy‑level” deaths and consolidation, with only a handful ultimately surviving. Yet just three days earlier, NVIDIA CEO Jensen Huang offered a nearly opposite assessment. On October 22, during an interview with CNBC, Huang insisted that demand for Neocloud computing power remains extremely robust; the only real constraint on their growth is insufficient working capital, and funding challenges will eventually be resolved. Both men remain optimistic about AI‑computing demand, but they differ sharply on the economics of operating compute‑leasing businesses...