AI neocloud stocks jump as Oracle caps financing; Alphabet slides on cash flow

Capital spending for the AI build-out did not slow this week, but the market began repricing who carries the cost of it, and the split showed up in a single session. Oracle jumped more than 12 percent on October 29 after it capped additional AI financing and mapped a return to positive free cash flow, and the reassurance carried the neocloud operators that build ahead of revenue with borrowed dollars, CoreWeave up about 15 percent, Nebius up about 11 percent and IREN up about 9 percent. The selling landed on the hyperscalers whose own cash flow turned negative, Alphabet down about 11 percent and Meta down about 3 percent, a balance-sheet split that suggests investors are starting to price th…