StartupsThe Decoder·October 19, 2026

The neocloud shakeout is coming, and Nvidia has the most to lose

After stock crashes and Firmus's scrapped IPO, industry executives expect only seven to ten of the hundreds of AI cloud providers to survive. CoreWeave lost a quarter of its market value, and Microsoft pulled out of a deal with Nscale for 23,000 Nvidia chips. Nvidia has a lot riding on the outcome, since customers outside the hyperscalers make up 45 percent of its data center revenue. The article…

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