The Market Just Gave You a 30% Discount on AI Infrastructure

CoreWeave's bad earnings triggered panic. Morgan Stanley says the power shortage is still coming

The market is having a moment. And not the good kind.

So-called NeoClouds like $IREN and $NBIS are down 30% from their peaks. Energy stocks are being sold indiscriminately. Even Microsoft and META – companies with completely different business models and solid earnings – are getting hammered.

Welcome to deleveraging season.

What’s driving the selloff?

First…