By Pathikrit Bose
Publication Date: 2026-03-17 14:00:00
The case of Oracle (ORCL) was strange. After suddenly gaining prominence in the AI competition by participating in the $500 billion “Stargate Project” and signing a blockbuster $300 billion deal with OpenAI, Oracle joined the likes of Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOGL) in the big cloud infrastructure leagues.
But while this helped make Oracle Chief Technology Officer Larry Ellison briefly the richest person in the world, it all fell apart when reports surfaced about whether the company had the wherewithal to finance this infrastructure buildout. Oracle swap credit default spreads reached levels not seen since the global financial crisis as market participants grew wary of the company’s rising debt levels.
Still, Oracle doesn’t seem to care. In a recent filing with the U.S. Securities and Exchange Commission (SEC), the enterprise software giant said it will now spend $2.1 billion on…
