Stock Market Today, Oct. 15: Iren Stock Recovers, but Still Slides on Concerns Over Neocloud Provider Viability
Today, Oct. 15, 2026, Gartner's forecast that 80% of neocloud operators could lose independence by 2030 rattled AI infrastructure investors.
On October 15, Iren stock rose slightly after initially sliding following a Gartner report warning about the potential devaluation of AI infrastructure investments by 2030. The stock opened at $30.39, down 0.56% from the previous close, but quickly recovered some of its losses. Trading volume was notably high at 104.7 million shares, 134% above the three-month average.
Core Scientific, an AI cloud and data center company, saw a 6.99% increase, closing at $14.46. The S&P 500 and Nasdaq Composite both showed modest gains, closing at 7,744 and 26,713, respectively.
Gartner's report highlighted concerns that over $3.5 trillion in AI infrastructure investments could lose value by the end of 2030 if current capital expenditure levels persist. The firm warned that more than 80% of neocloud providers might cease operations independently by 2030, with analysts noting the potential for CoreWeave's high-yield bond yields to approach 15%.
Investors are advised to conduct company-specific analyses rather than viewing the market move as a sector-wide trend. The recovery in Iren stock can be attributed to the fact that a significant portion of its GPU capex is funded through customer contract prepayments.
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