By TOI Tech Desk
Publication Date: 2026-04-30 08:30:00
Oracle did not build the data center in Abilene, Texas. It was leased by Crusoe – a relatively inexperienced operator – on a 15-year contract worth more than a billion dollars a year. This is not an exception to the way Oracle operates; it’s the whole model. Oracle is a database company that has established itself as a financial guarantor of the construction of an AI infrastructure that it neither builds nor controls and that is financed almost entirely by debt, for a partner of OpenAI that has promised $ 1.4 trillion in its contracts and is not yet profitable.Of the $553 billion in remaining performance obligations that Oracle reported in its most recent earnings, more than $300 billion is attributable to a single customer: a company whose CFO has reportedly told colleagues she isn’t sure it can pay for future computer contracts if sales don’t grow fast enough. That’s the agreement. That’s what Oracle wants to make you feel good.And yet the posts keep coming. In the last two weeks alone, Oracle has declared…
