AI infrastructure selloff: record CDS spreads, Solidigm IPO pulled

Neoclouds CoreWeave, Nebius and IREN each fell over 30% in October, with CoreWeave's CDS spreads topping 11% and yields on its 2031–2032 notes above 15%. SK Hynix scrapped the IPO of its Solidigm unit citing volatility, while Meta posted negative free cash flow of over $2 billion and raised its capex floor to $135 billion.

• CoreWeave, Nebius and IREN lost more than 30% in October
• Meta, Nvidia and Oracle CDS spreads hit records of 124, 126 and 343 bps
• SK Hynix pulled Solidigm's IPO citing market volatility
• Gartner: 80% of neoclouds will fold or be absorbed by 2030