AI infrastructure stress: neocloud credit, off-balance-sheet debt, semis split
Zerohedge flags $4.1T of off-balance-sheet AI commitments, CoreWeave bonds at 78, an NBIS short from Citrini and a wide hyperscaler/semis divergence, while analysts insist memory demand remains strong.
What we know
Hyperscaler commitments include $1.7T of leases and $1.9T of purchase obligations. CoreWeave bonds trade at 78. Citrini advised shorting NBIS, and INTC is below the lowest sell-side target. Hyperscalers rip while semis rot. Bulls counter that demand is fungible globally.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.