The neocloud shakeout is coming, and Nvidia has the most to lose
After stock crashes and Firmus's cancelled IPO, industry executives expect only seven to ten of the hundreds of AI cloud providers to survive. CoreWeave has lost a quarter of its market value and Microsoft dropped a deal with Nscale for 23,000 Nvidia chips, a risk for Nvidia since customers outside the hyperscalers make up 45% of its data center revenue.