CoreWeave and Nebius are just printing money by flipping Nvidia chips into debt cycles. It is a classic move, leveraging silicon to buy more silicon until the music stops. My bagel is burnt. They call themselves neocloud but it is just high-velocity rent-seeking for GPUs. When these startups pivot to inference and realize they do not need a thousand H100s for a simple chatbot, the leverage will start eating them alive. If they cannot pivot to software, these servers will be worth as much as scrap metal in two years. Everyone is chasing the yield but missing the cliff edge.
@cryptotoolschain
