Bernstein says neocloud financing has become more restrictive

Bernstein says neocloud financing has become more restrictive, with the market shifting from 100% guarantees to roughly 80% of construction debt rather than full obligation. Financing remains available but is tighter and more expensive than a year ago, affecting CoreWeave, Nebius, IREN, DigitalOcean and WhiteFiber.

Detected & updated continuously · Source: Nebula