# Are IREN, Nebius, & CoreWeave In BIG Trouble?

Page: https://stenobird.com/podcast/nanalyze-6316207/are-iren-nebius-coreweave-in-big-trouble
Text version: https://stenobird.com/podcast/nanalyze-6316207/are-iren-nebius-coreweave-in-big-trouble.md
Podcast: [Nanalyze](https://stenobird.com/podcast/nanalyze-6316207)
Published: 2026-04-26T16:54:16+00:00
Episode link: https://podcasters.spotify.com/pod/show/nanalyze/episodes/Are-IREN--Nebius---CoreWeave-In-BIG-Trouble-e3iga87
Audio file: https://anchor.fm/s/da142640/podcast/play/119072455/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-3-26%2F422905337-44100-2-c5026d513945f.m4a
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JSON: https://stenobird.com/v1/public/podcasts/nanalyze-6316207/episodes/are-iren-nebius-coreweave-in-big-trouble
Duration seconds: 904

## Resource

Neocloud stocks like IREN $IREN, Nebius $NBIS, CoreWeave $CRWV, and Applied Digital $APLD have exploded — up 100% to over 800% in the past year, crushing the Nasdaq. But is this the next great AI infrastructure boom… or a repeat of the late-1990s fiber optic bubble (hello, Global Crossing)? In this video we break down the Neocloud business model, why these companies can offer GPUs 30-80% cheaper than hyperscalers, the massive risks around debt, depreciation, customer concentration (your competitor as your biggest client isn’t ideal), contract quality, and what happens when AI compute supply finally catches up to demand. Stay informed with our free disruptive technology investing newsletter, Nanalyze Weekly. Sign up now at https://www.nanalyze.com/nanalyze-weekly/ . This episode is pulled from a YouTube presentation. View the original presentation at https://youtu.be/5wE1Y-wAh_A.

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## Transcript

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