AI hasn’t cooled off yet, but the valuations of companies building data centers for AI have already taken a hit.
After the U.S. midterm elections, data center policies in Texas may tighten.
Wall Street has already started making moves.
Bernstein cut its price targets for seven Bitcoin mining companies all at once, with the largest cut reaching 54%.
Among them:
IREN: $100 → $55
RIOT: $35 → $18
CIFR: $23 → $15
Xiaohuihui believes the AI industry supply chain is entering a brutal period of divergence.
The giants have cash flow, customers, and access to financing.
But smaller companies that borrow money to buy GPUs and build data centers—or even sell BTC to pivot to AI—may find things getting harder and harder.
Of course, companies that have already secured power connection permits and long-term customer contracts may actually benefit from tighter supply.
The AI revolution may be real, but that doesn’t mean everyone building data centers for AI will make money.
Who will be the first to fall in the industry’s next shakeout?
After the U.S. midterm elections, data center policies in Texas may tighten.
Wall Street has already started making moves.
Bernstein cut its price targets for seven Bitcoin mining companies all at once, with the largest cut reaching 54%.
Among them:
IREN: $100 → $55
RIOT: $35 → $18
CIFR: $23 → $15
Xiaohuihui believes the AI industry supply chain is entering a brutal period of divergence.
The giants have cash flow, customers, and access to financing.
But smaller companies that borrow money to buy GPUs and build data centers—or even sell BTC to pivot to AI—may find things getting harder and harder.
Of course, companies that have already secured power connection permits and long-term customer contracts may actually benefit from tighter supply.
The AI revolution may be real, but that doesn’t mean everyone building data centers for AI will make money.
Who will be the first to fall in the industry’s next shakeout?