Jim Liu(@jiahanjimliu):$IREN: Institutions Data Sources are starting to track Neocloud Profitability @wayne_nelmz who leads @OrnnExchange which is a startup in tracking compute prices and it's derivatives explains here that after Colocation and 9% financing, CRWV's break even for H100s is 2.00/hr. Currently going for 2.81/hr and 86% utilization rate for on-demand. In the future, as institutions utilize more of this data and get more sophisticated, I envision Neoclouds to be traded as a reflection of the compute assets underneath them, at what cost it takes for each Neocloud to bring it online, and how effectively provide them and adjusted for risk.

2026.10.19 03:08

$IREN: Institutions Data Sources are starting to track Neocloud Profitability @wayne_nelmz who leads @OrnnExchange which is a startup in tracking compute prices and it's derivatives explains here that after Colocation and 9% financing, CRWV's break even for H100s is 2.00/hr. Currently going for 2.81/hr and 86% utilization rate for on-demand. In the future, as institutions utilize more of this data and get more sophisticated, I envision Neoclouds to be traded as a reflection of the compute assets underneath them, at what cost it takes for each Neocloud to bring it online, and how effectively provide them and adjusted for risk.

wayne nelms@wayne_nelmz

2026.10.19 02:28

Coreweave’s CRISIS is a GPU pricing problem. $CRWV fell 23.7% this week asthe cost of insuring its debt hit a record (cc @amitisinvesting), implying roughly a 60% chance of default within five years. But looking at the underlying assets and contracts, it's clear that the business of GPU financing is fundamentally uncertain. (1/)