Overview
- Oracle reports fiscal second‑quarter results today, with analysts expecting about $16.2 billion in revenue and RPO to top $500 billion after a surge tied largely to a reported ~$300 billion, multi‑year OpenAI commitment.
- CNBC reports Oracle sold $18 billion of bonds in September and now carries about $111.6 billion in total debt, while Citi estimates the company may need to raise $20–$30 billion in debt annually over the next three years.
- Investors will look for details on financing strategies for the AI data‑center buildout, including potential use of vendor financing, off‑balance‑sheet vehicles and construction loans already secured for sites in New Mexico and Wisconsin, as Oracle’s CDS prices hit multi‑year highs.
- Nvidia’s dominance faces fresh tests after Google’s Gemini 3 was trained solely on TPUs and reports of potential TPU sales to Meta, alongside rival efforts from Broadcom’s custom silicon and AMD’s expanding partnerships.
- Wall Street remains split, with Bernstein and Goldman Sachs reiterating bullish views on Nvidia and analysts growing more positive on Alphabet’s AI momentum, while Apple’s lower‑capex approach has drawn defensive‑minded investors.