"Coreweave's a Zero" | George Noble on Why He's Short Neoclouds, Why AI is a Shale 2.0 Bubble Headed for Debt/Depreciation Brick Wall, and Why He's "Coming For The Momentum Bros"

Noble argues rising cost of capital will expose unprofitable AI economics, making CoreWeave, Tesla, and SpaceX his top shorts.

• CoreWeave called a zero: George Noble says short of a bailout from NVIDIA he's "highly confident CoreWeave is a zero," comparing it to "WeWork with GPUs" and Hertz with depreciating used cars.
• Depreciation wall by 2030: Noble estimates hyperscaler depreciation could exceed $500 billion/year by 2030 on ~$2.5 trillion of AI assets, exceeding all their combined profits.

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