Neocloud premium is a speed premium: why Microsoft pays CoreWeave despite 5% borrowing costs
AccBalanced · x · 2026-10-24
The neocloud premium is a speed premium: money isn't scarce — power and time are. CoreWeave borrows at 15% while Microsoft pays 5%, yet Microsoft signed $60B+ with neoclouds (per the chart: Microsoft $329B, Meta $279B, Google $85B in signed-not-started leases). Hyperscalers build gigawatt campuses that take years of grid queues no matter the budget; neoclouds rent existing sites from former bitcoin miners like Core Scientific and Hut 8 and light up GPUs in months.
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