In the early morning of October 26, Beijing time, Elon Musk posted on social media platforms: Over the past few weeks, the bond market has almost completely closed its doors — as long as any company has no large-scale revenue independent of AI data centers, it is basically unable to get money. SpaceX has just secured $40 billion in debt financing for GPUs, but we have investment-grade credit, and we have revenue from Starlink and the launch business. This means that more than 200 “new cloud vendors” will face mass death and integration at the guppy level. Some will hold up, but not much.

In the early morning of October 26, Beijing time, Elon Musk posted on social media platforms: Over the past few weeks, the bond market has almost completely closed its doors — as long as any company has no large-scale revenue independent of AI data centers, it is basically unable to get money. SpaceX has just secured $40 billion in debt financing for GPUs, but we have investment-grade credit, and we have revenue from Starlink and the launch business. This means that more than 200 “new cloud vendors” will face mass death and integration at the guppy level. Some will hold up, but not much.