FOURWEEKMBA DATA ยท FROM THE NEWSROOM ยท UPDATED 31 OCTOBER 2026
Free to share with a link to this page. Every number comes from the published source listed in the table below, as reported by the FourWeekMBA newsroom.
Neoclouds are the companies that rent out AI chips by the hour: CoreWeave, Nebius, IREN, and the former bitcoin miners now hosting AI data centres, such as Cipher, Core Scientific, TeraWulf and Applied Digital. They have grown by borrowing. This page puts one simple number next to each of them: how much cash the company holds for every dollar of debt on its balance sheet. We take cash and cash equivalents straight from each company's latest SEC filing and divide by the debt lines on the same balance sheet. Leases and restricted cash are left out, and both are shown in the notes. At the end of June 2026, CoreWeave held 16 cents of cash per $1 of debt and Cipher held 15 cents, while Nebius held 94 cents. Six of the seven hold less than 80 cents. The ratio does not predict a default. It shows how much of the build-out depends on lenders staying willing. We update the chart every time a new quarterly filing lands.
The full chart, free to share with a link to this page. Every number comes from the published source listed in the table below, as reported by the FourWeekMBA newsroom.
The renderer recomputed every ratio from the stored cash and debt facts. Each one matches the stored ratio to within 0.01.
The debt totals were summed again from the filing line items. All seven match the stored totals.
CoreWeave and IREN cash (and IREN debt) match the XBRL `financials` table to the dollar.
The other five companies are checked against the filing facts only, because the `financials` table has no XBRL rows for them for these dates.
Cipher's restricted cash is $3.73B ($3.188B current + $0.540B non-current, facts 10772 and 10773). Counting it would give $0.82.
CoreWeave's operating lease liabilities are $16.32B ($0.584B + $15.735B, facts 10751 and 10752).
How this page stays current
This chart is rebuilt from the FourWeekMBA newsroom’s sourced data. When a company files new numbers or a lab changes a price, our newsroom reports it and this page is updated with the new figure and date.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
