kralcttam ☕
️@kralcttam@mastodon.social
OpenAI starts to be credit risk
Oracle has now lost more than all the gains it made after reporting a massive pipeline of future demand, which was later revealed to be from OpenAI.
"Not only have shares tumbled, but credit default swap spreads have widened; that is, investors no longer think it’s as safe a bet to make good on its own debts."
Because they're building out data centers to meet demand from OpenAI which is busy shoveling money into a furnace.
https://sherwood.news/markets/unpacking-how-speculative-ai-quantum-energy-datacenter-tech-stocks-lost-one-third-of-their-value/