Roughly $1.09 trillion of market value came off six memory and storage makers between the October 2 close and October 15, according to Benzinga, and the companies renting out AI compute had an equally bad week. SK Hynix fell 11.1% in Seoul on Thursday, its seventh straight loss, leaving it nearly 58% below its record. Samsung Electronics dropped 9.5%, Micron opened down 4.4% at $874.14, SanDisk fell 6.6% to $1,311.42, and the Kospi lost 7.6% on the day. China capacity drove the fear, with Counterpoint Research saying YMTC is now the world's third largest NAND flash maker, and hotter September inflation prints layered a rates problem on top. The neocloud operators faced the same pressures plus a debt problem. CoreWeave plunged 15.5% on Wednesday after Bloomberg reported its unsecured notes due 2032 had dropped below 80 cents on the dollar, per Yahoo Finance. By Friday morning CoreWeave and Nebius were each down about 9%, to $63.25 and $172.32, and more than 22% on the week, according to 24/7 Wall St, which also reported CoreWeave's unsecured bonds at a 15% yield and its quarterly interest expense at $640 million, up from $267 million a year earlier, with management guiding the third quarter to $860 million to $940 million. StockTitan reported a lower second-quarter figure of $558 million in interest on debt, so the two numbers may be measuring different things. Morningstar cut its price targets on CoreWeave to $108 from $115 and on IREN to $37 from $43, held Nebius at $150 on a balance sheet it describes as carrying minimal net debt, and warned that with cloud infrastructure investment heading past $1.3 trillion in 2027, neoclouds may have to borrow at higher cost. CNN's Fear and Greed index read 28 on October 16, just above extreme fear, down from 46 a week earlier. IREN carries the crypto angle. The company began as a bitcoin miner and moved into AI cloud, at a time when mining economics keep tightening, with hashprice at $36.75 per petahash per day after difficulty rose 5.92%. According to The Call Log, its shares fell about 30.3% from the week's open to the October 15 intraday low, from $38.16 to $26.60, a steeper drop than CoreWeave's roughly 28.2% over the same stretch.