⚡ Musk and Huang Renxun Clash on Views; JPMorgan: Market Consensus Is That Hyperscale AI Data Center Operators Are in Good Shape Elon Musk, CEO of SpaceX, recently warned that over 200 new cloud companies will face massive failures or consolidations; while some may survive, very few will. This warning sharply contradicts the earlier view expressed by NVIDIA CEO Huang Renxun. Last week, Huang stated at GTC that demand for new cloud infrastructure far exceeds expectations. Although he acknowledged that new cloud firms urgently need funding and that capital is currently scarce, he remained confident the issue would be resolved. Jefferies analysts noted that Musk’s remarks triggered a new wave of panic trading. JPMorgan, however, believes the AI debt market is becoming more selective toward AI infrastructure but dismisses concerns about a broader financing crisis. JPMorgan’s market intelligence team emphasized that while credit shortages are concerning, the prevailing consensus is that hyperscale data center operators remain in strong condition, with large players continuing to dominate—and even smaller firms, including new cloud providers, still generating positive returns on investment. (Caixin)