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Gartner just dropped a report predicting most AI cloud providers will lose their independence before the decade ends, and three neocloud stocks are already paying the price this morning as investors weigh whether the business model itself is broken.
A Gartner warning that most neoclouds, the AI providers that rent out graphics processing unit (GPU) capacity, won’t survive as independent companies is pulling the group lower, and IREN Limited (NASDAQ:IREN) stock is among the hardest hit. IREN stock is down 5% to $28.94 this morning. Similarly, CoreWeave…
Gartner warns that over $3.5 trillion in artificial intelligence capital spending faces potential impairment through 2030 due to a widening divide between infrastructure expenditures and actual market returns.