27th October 2026 – (New York) A bruised neocloud cohort extended its rebound for a second day after Elon Musk’s weekend forecast of “guppy‑level death” initially knocked the group lower on Monday before dip‑buyers stepped in. By late morning, Nebius gained about 10 per cent to US$167.43, CoreWeave added roughly 5 per cent, IREN advanced 6.7 per cent to US$27.46 and Cipher Mining rose 8.4 per cent to US$8.3810, signalling that sentiment had stabilised despite the high‑profile warning.
Macro releases underpinned the mood. September new‑home sales eased to a seasonally adjusted annual rate of 676,000 from 684,000 in August, a milder slowdown than economists’ 651,000 consensus. Consumer confidence surprised to the upside, with The Conference Board’s index jumping to 91.7 from 81.9 against expectations for a small decline to 81.0. US government bond yields were slightly higher, with the 10‑year Treasury up 1.7 basis points around 5.00 per cent, as investors awaited the outcome of the Federal Reserve’s two‑day meeting, where markets largely expect rates to be left on hold.
Company news added to the risk bid. SoFi said it had reached 503,070 cryptocurrency accounts as of 30th September, less than a year after relaunching SoFi Crypto in late 2025. Crypto transaction revenue totalled US$161.6 million in the third quarter, mostly offset by US$160 million of associated costs, leaving net revenue of US$1.63 million; net crypto transaction revenue for the first nine months of 2026 came to US$3.67 million. Shares rose about 11 per cent in pre‑market trading. Galaxy Digital advanced roughly 4.5 per cent after posting treasury and corporate profit of US$419 million for the third quarter, reversing a US$42 million loss in the prior period, and unveiling a fresh US$200 million buy‑back. The firm said Phase II of its Helios I data‑centre project is fully financed and on schedule, while talks continue with prospective tenants for the additional 830MW available at Helios II; its stock remains more than 30 per cent lower over the past month.
In digital assets, Bitcoin drifted to about US$79,750, down 0.6 per cent over 24 hours and roughly 2.5 per cent weaker on the week. Ether and solana edged lower, while XRP added about 1 per cent after Ripple secured final approval to launch a US national trust bank. The flow of capital towards artificial‑intelligence ventures also shaped the day’s narrative, with Meta Platforms outlining plans to raise up to US$95 billion and Anthropic filing for an initial public offering that reports suggest could seek as much as US$100 billion. Venture capitalist Jason Calacanis reiterated a bearish stance, arguing that a “brutal year for Bitcoin” may lie ahead and touting Bittensor (TAO) for its AI focus; TAO has fallen about 25 per cent over the past month and 38 per cent over the past year.
