Citi ECM Chief Sees Near-Term IPO Caution on Neocloud Wobbles
THE SO WHAT
If data center and AI infra spend are making IPO investors skittish, late-stage companies with heavy capex or GPU exposure should expect tougher valuation conversations and possibly delayed listings. Founders in the “neocloud” narrative need a crisp path from AI capex to durable cash flows, not just usage growth, to clear this window.
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