SpaceX CEO Musk recently warned that more than 200 new cloud companies will go bankrupt or merge on a large scale. Some companies can survive, but not many. However, Musk's warning is almost the exact opposite of Nvidia CEO Hwang In-hoon's previous views. Last week, Huang Renxun pointed out at the GTC conference that the market's demand for new clouds far exceeded expectations. Although he also mentioned that Xinyun is currently in urgent need of financial support and is facing a shortage of capital, he believes that this problem will definitely be solved. Jefferies analysts pointed out that Musk's remarks triggered a new round of panic trading. J.P. Morgan believes that the AI debt market has become more picky about AI infrastructure, but it is not convinced by the broader financing crisis. J.P. Morgan's market intelligence team stressed that the shortage of credit is worrying, but the current consensus is that hyperscale data center operators are doing well, large operators will continue to dominate, and the return on investment for small businesses, including new cloud service providers, is still positive.

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