OpenAI能否顺利完成新一轮巨额融资，已不仅是其自身的生存问题，更成为了决定整个AI板块交易逻 辑的关键变量。 虽然市场传言显示OpenAI下一轮融资规模可能高达1500亿至1700亿美元，若该消息属实，将确保其资 金链维持至2030年，并有望推动整个AI板块大幅上涨。然而，现实层面的不确定性正在增加。 OpenAI本轮融资的最终规模，是决定AI产业链资金流向的"胜负手"。 2月2日，社交平台X上流传出的最新市场传闻称，OpenAI下一轮融资额可能高达1500亿至1700亿美元， 这一乐观预期被视为整个AI综合体（AI complex）能否继续飙升的燃料。 据华尔街见闻此前文章称，黄仁勋1月31日明确澄清，尽管芯片巨头"绝对会参与"OpenAI的最新一轮融 资，但金额绝非外界猜测的那样巨大。 2月2日，据华尔街日报称，这一资金缺口引发了连锁反应，直接冲击了为OpenAI提供算力的甲骨文。 甲骨文此前将与OpenAI签订的3000亿美元合同计入剩余履约义务（RPO），支撑了其股价早前的飙 升。 分析指出，如今，随着核心投资方出资意愿的调整，投资者开始质疑OpenAI是否有能力支付这笔天文 数字般的费用，以及甲 ...

派杰投资：将甲骨文(ORCL.US)目标价从290美元下调至240美元。 ...

他补充道，同时使用债务与股权(同时限制股权稀释)的融资结构，应有助于该公司保持其投资级信用资 质(investment-grade credit profile)的目标。 斯洛温斯基还表示："此外，甲骨文计划通过单次发行筹集225亿至250亿美元债务，这应能缓解市场对 其在2026日历年度(CY26)反复进入融资市场的担忧，并可能使该公司从信贷投资者处获得更有利的条 款。" 甲骨文上周日表示，预计将在2026年筹集450亿至500亿美元，用于为其云基础设施业务扩建额外产能。 该公司计划通过债务与股权相结合的方式满足资金需求。在股权方面，甲骨文预计其2026年融资总额中 约有一半将来自股权关联工具(equity-linked instruments)与普通股发行的组合。 斯洛温斯基在致客户的报告中写道："我们认为，甲骨文的融资公告可能成为其股票的潜在风险澄清事 件，尤其是结合OpenAI即将进行的融资轮来看(近期报道显示，市场对其500亿至1000亿美元的融资规 模似乎存在充足需求)。" "随着甲骨文为其OCI(Oracle Cloud Infrastructure,甲骨文云基础设施)建设提供资金的能力以及Op ...

Oracle Corporation (NYSE:ORCL) is one of the 10 AI Stocks Gaining Attention on Wall Street. On February 2, Barclays’ analyst Raimo Lenschow reiterated an Overweight rating on the stock with a $310.00 price target. The firm sees clarity on financing after the proposed $45–50B raise, easing credit pressure and assisting equity upside. Oracle announced on Sunday that it will expectedly raise between $45 billion and $50 billion in calendar 2026 through a combination of stock sales and debt. This move, the co ...

Core Viewpoint - Oracle has announced a comprehensive financing plan to raise $45-50 billion, which alleviates market concerns regarding funding for its AI business expansion, leading to a potential revaluation of its stock [1][3]. Group 1: Financing Plan Details - Oracle's financing plan includes a bond issuance of $20-25 billion, divided into eight parts with maturities ranging from 3 to 40 years, and it will be the only debt issuance for the year [1]. - Barclays analysts noted that if Oracle raises the full $25 billion in equity, the peak leverage ratio would decrease by 0.4 times compared to a pure debt financing approach, at the cost of up to 4% equity dilution [2]. - The equity financing structure allows for flexibility, with a potential scale of $5 billion in mandatory convertible securities, enabling Oracle to adjust the issuance pace based on market conditions [2]. Group 2: Market Reactions and Implications - Barclays indicated that the announcement provides clarity on Oracle's financing needs, which had been a major concern, especially as the company's stock had dropped 35% over the past six months due to credit worries [3]. - The clear financing path eliminates doubts about the company's financial sustainability, allowing investors to refocus on the growth potential of its AI business [3][7]. - Analysts believe that after resolving financing issues, the market will reassess Oracle's overall story, suggesting that the stock is currently undervalued given its expected growth rate exceeding 30% [7]. Group 3: Valuation and Growth Outlook - Barclays maintains an "overweight" rating on Oracle with a target price of $310, indicating an approximately 80% upside from the closing price of $160 [4]. - The firm expects that investors will prioritize improvements in leverage over dilution, leading to a positive stock response [4].

甲骨文(ORCL.US)计划通过债务和股权融资筹集 500 亿美元，这提振了投资者对该公司能够避免信用 评级下调的信心，因为该公司正在为其人工智能建设提供资金，受此消息影响，5 年期信用违约互换价 格暴跌 17%。与此同时，分析师也指出，这有助于缓解市场对科技巨头庞大债务融资的担忧。 股债双线融资缓解市场担忧，信用违约保险成本下降 信用违约互换就像投资者的保险，买家付费是为了在借款人无法偿还债务时获得保障。市场一直 将五年期互换合约视为投资者对冲人工智能繁荣风险的一种方式。过去几个月，甲骨文公司一直 处于"恐慌高峰"周期中，市场几乎对任何新闻都做出负面反应。 甲骨文最新发债有助于缓解AI债务浪潮担忧 融资项目一直是市场的噩梦，预计未来几个季度将带来大量供应。然而，现在情况发生了变化 ——噩梦消失了。" 巴克莱银行信贷分析师 Andrew Keches周一在给客户的报告中写道："股权融资显著抑制了信 贷下行风险。"凯奇斯将甲骨文的债务评级上调至"增持"，并表示其信用违约互换(CDS)价格应 会进一步下降。 在宣布发行债券后，甲骨文公司的长期债券在二级市场上涨，衡量该公司信用风险的指标也降至 2021 年 4 月 ...

Core Viewpoint - Oracle Corporation is focusing on expanding its cloud infrastructure and has a positive outlook with a significant price target set by Piper Sandler, indicating potential growth in its stock value [1][5]. Group 1: Financial Strategies - Oracle plans to raise between $45 billion and $50 billion through a significant bond sale to enhance its cloud services, addressing the growing market demand [2][5]. - The funds will be sourced from a mix of debt and equity sales, indicating a strategic approach to financing its expansion [2]. Group 2: Stock Performance - Oracle's stock price has decreased by 2.70%, or $4.45, bringing it to $160.13, with fluctuations between $160 and $171.20 on the same day [3]. - Over the past year, Oracle's stock has experienced significant volatility, with a high of $345.72 and a low of $118.86 [3][5]. Group 3: Market Position - Oracle's market capitalization is approximately $460.07 billion, reflecting its substantial presence in the tech industry [4]. - The trading volume on the NYSE is 43.25 million shares, indicating active investor interest in the company [4].

Group 1 - SF Express (09699) expects a profit of no less than RMB 238 million for the year ending December 31, 2025, representing an increase of at least 80% compared to 2024. Adjusted net profit is projected to be no less than RMB 376 million, a growth of at least 158%, with revenue expected to reach no less than RMB 22 billion, a 40% increase from 2024 [1] - Fuhong Hanlin (02696) shares rose nearly 5% following a successful offline researcher meeting in San Francisco regarding its international multi-center Phase III clinical study for HLX22, a new anti-HER2 monoclonal antibody [1] - Xpeng Motors (09868) saw a decline of over 2.2% as it reported January vehicle deliveries of 20,011 units, a year-on-year decrease of 34.07% and a month-on-month decrease of 46.65% [1] Group 2 - Engineering machinery stocks continued to rise, with Zoomlion (01157) up 7.47% and Sany International (00631) up 3.57%. The total import and export trade of engineering machinery in China for 2025 is projected to be USD 62.743 billion, a year-on-year increase of 13.2% [2] - Ruipu Lanjun (00666) shares increased over 5% after announcing its first profit forecast since listing, expecting a net profit of RMB 630 million to RMB 730 million for the year ending December 31, 2025 [2] - Pony.ai (02026) shares rose over 2.5% following a partnership with Aitbot to build a fully autonomous driving service fleet [2] Group 3 - MINIMAX-WP (00100) shares surged over 12.7% after the release of the MiniMax Music 2.5 audio model, which achieved breakthroughs in "paragraph-level strong control" and "physical-level high fidelity" [3] - China International Marine Containers (02039) shares rose over 12% after discussing its data center business and container manufacturing performance in an investor relations activity [3] Group 4 - WanGuo Gold Group (03939) shares increased over 6.8% after announcing an expected profit of approximately RMB 1.4 billion to RMB 1.5 billion for 2025, a year-on-year increase of about 143% to 161% due to rising sales volume and prices of gold products [4] - Junda Co., Ltd. (02865) shares rose over 13% after completing a placement agreement [4] Group 5 - Carnival Cruise Line (CCL.US) shares rose 8.09% as U.S. House Speaker Mike Johnson expressed confidence in gaining Republican support to end the government shutdown [5] - Major tech stocks like AMD (AMD.US) and Intel (INTC.US) saw gains, with AMD up 4.03% and Intel up 5.04%, following unexpected expansion in U.S. manufacturing activity [5] - The storage sector strengthened, with SanDisk (SNDK.US) up 15.44% as demand for AI and data centers continues to drive price increases in DRAM and NAND Flash products [6] Group 6 - Disney (DIS.US) shares fell 7.4% despite reporting a 5% year-on-year revenue increase to USD 26 billion for Q1 2026, exceeding analyst expectations [7] - Coterra Energy (CTRA.US) shares dropped 3.6% following Devon Energy's announcement of a significant acquisition deal [6] - Oracle (ORCL.US) shares declined 2.75% as the company plans to raise USD 45 billion to USD 50 billion for expanding its cloud infrastructure [8]

智通财经APP获悉，摩根大通公司的数据显示，1月份外国投资者购买美国公司债券的速度创下近三年 来的最快月度纪录，稳定的收益率和较低的对冲成本提升了美国信贷的吸引力。摩根大通策略师 Nathaniel Rosenbaum与Silvi Mantri在一份报告中指出， 1月份最后一周买盘放缓，隔夜净流入平均为2.4 亿美元，较前一周下降59%。尽管如此，1月份的净买盘平均每晚仍达到3.32亿美元，为2023年2月以来 的最高水平。 华尔街一直在密切关注美元走软是否会引发更大规模的美国资产撤离。然而，迄今为止，流入美国公司 债券的外国资金依然坚挺，这表明美元走软尚未导致更广泛的资金转移。 债券并非唯一活跃的信贷板块。上周欧洲杠杆贷款发行量创历史新高，而1月份美国杠杆贷款发行量位 居历史第七，尽管后者已开始出现裂痕痕迹。 与此同时，全球公开发行的银团债券规模在创纪录的时间内达到了1万亿美元，借款人抓住飙升的需求 锁定相对较低的成本。数据显示，甲骨文(ORCL.US)周一完成了今年规模最大的企业债券发行，筹集了 250亿美元，标志着全球融资规模突破了250亿美元的大关，快于前两年。此前，2024年达成时间是2月7 日，去 ...

此外，该公司还表示，计划在2026年初通过一次债券发行来筹集剩余的资金目标。值得一提的是，该公 司在2025年曾借入180亿美元，这是当年规模最大的企业债发行之一。 美国科技巨头甲骨文公司周日（2月1日）表示，计划在2026年通过发行债券和股票的方式筹集450亿至 500亿美元，用于扩大其云基础设施的容量。 甲骨文公司在一份声明中表示，"公司正在筹集资金，建设额外的容量，以满足包括AMD、Meta、英伟 达、OpenAI、TikTok、xAI在内的甲骨文云基础设施客户的合同需求。" 据悉，甲骨文计划通过发行与股权挂钩的证券及普通股筹集约一半资金，其中包括强制性可转换优先股 证券，并通过规模最高达200亿美元的增发股票计划进行融资。 TD Cowen还警告，今年股权和债务投资者都对甲骨文公司是否有能力为这项扩建项目提供资金提出了 质疑，甲骨文公司信用违约互换（CDS）利差扩大以及甲骨文公司股票和债券价格承压就证明了这一 点。 并且，TD Cowen指出，当前，多家美国银行已停止向甲骨文相关的数据中心项目提供贷款。 据甲骨文称，相关交易已获甲骨文董事会批准。高盛将主导此次高级无抵押债券发行，花旗集团将主导 市场股 ...