Business

Turmoil hits AI buildout as neoclouds face pressure, credit risks mount and Solidigm pulls IPO

CNBC·Oct 24, 2026 · 1:41 AM CT
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The AI infrastructure trade had a rough week: neocloud stocks CoreWeave, Nebius and IREN are each down well over 30% in October, and spreads on CoreWeave's credit default swaps widened past 11%, a level seen as distress. CNBC also notes Meta turned cash-flow negative, SK Hynix's Solidigm pulled its IPO, and Alphabet fell 6% ahead of earnings.

Summary written by Readthrough from the original article. The full story, with photos and any updates, is at CNBC.

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