Core Insights - Oracle Corporation is currently viewed as a strong investment option among Reddit stocks, despite a recent price target reduction by KeyBanc from $350 to $300 while maintaining an Overweight rating [1] Financial Performance - In FQ2 2026, Oracle's total revenue reached $16.1 billion, reflecting a 13% year-over-year increase [3] - Cloud revenue accounted for 50% of total revenue, growing by 33% to $8 billion, driven primarily by the Cloud Infrastructure segment, which increased by 66% to $4.1 billion [3] - GPU-related revenue within the cloud infrastructure business surged by 177%, indicating strong demand for Oracle's AI infrastructure [3] - Cloud Database Services revenue rose by 30%, with Autonomous Database revenue growing by 43%, while Cloud Applications revenue increased by 11% to $3.9 billion [3] Market Expectations - Cloud revenue and gross margin fell short of expectations, with IaaS growth reaching $4.1 billion, slightly below the anticipated $4 billion [2] - Despite a total remaining performance obligation exceeding $500 billion, the weak share reaction suggests that investors are focusing on current execution rather than future contract backlogs [2]

Group 1: Market Overview - Major tech stocks experienced declines, with Tesla and Broadcom dropping over 4%, Google down over 3%, and Meta and Apple falling over 1% [1] - Energy and precious metals sectors saw gains, with ConocoPhillips rising over 4% and ExxonMobil and BP increasing over 2% [1] Group 2: Oracle's Challenges - Oracle faced significant setbacks in its ambitious AI infrastructure expansion plan, as its largest data center partner, Blue Owl Capital, decided to withdraw support for a $10 billion data center project [1] - Despite the setback, Oracle stated that negotiations for the project are proceeding as planned and that the overall progress is on track, with the deal not including Blue Owl Capital [1] - Analysts suggest that this incident highlights potential risks in the funding chain for AI infrastructure as private credit markets tighten [1] Group 3: Nvidia's Market Impact - Nvidia shares fell by 3.81%, resulting in a market value loss of $164.8 billion (approximately 1160.8 billion RMB) [2][3] - The decline is attributed to competitive pressures and a broader downturn in the sector [3] Group 4: Medline's IPO Success - Medline Inc. had a successful IPO, with shares rising 41.38% on the first day to $41, after pricing at $29, raising $6.26 billion [4][5] - The company specializes in manufacturing and distributing medical supplies, including gloves and surgical gowns, and has secured commitments from cornerstone investors [4]

Market Overview - A-shares experienced a significant rebound on Wednesday, with Muxi Co. (688802 CH) surging 692% on its debut[3] - The Hang Seng Index rose by 233 points (+0.92%) to close at 25,468 points, driven by technology and consumer stocks[12] - U.S. stocks fell sharply, with the Dow Jones down 228 points (-0.47%) and the S&P 500 down 1.16%[10] Economic Indicators - U.S. inflation data is anticipated to influence the Federal Reserve's stance on further rate cuts, with expectations of a CPI increase exceeding 3%[31] - The UK inflation rate dropped to an eight-month low, exceeding expectations, which has bolstered market rate cut predictions[6] Commodity and Currency Movements - International oil prices rebounded from a four-and-a-half-year low, with NY crude oil rising 1.21% to $55.94 per barrel[28] - Gold prices approached record highs, with NY gold increasing by 0.96% to $4,347.5 per ounce[28] Fixed Income Market - U.S. Treasury yields showed mixed results, with the 10-year yield rising by 0.8 basis points to 4.15%[31] - The auction for 20-year U.S. Treasury bonds was lackluster, with a bid-to-cover ratio of 2.67, below the average of 2.73[31] Sector Performance - In the U.S., the technology sector led declines, with the information technology index falling 2.19%[10] - In Asia, the KOSPI index in South Korea rose by 1.4% to 4,056.4 points, while the Shanghai Composite Index increased by 1.19%[22] Corporate Highlights - Micron Technology (MU US) reported a strong earnings outlook, with Q1 EPS exceeding market expectations by 16%[9] - MongoDB (MDB US) announced significant revenue growth and raised its full-year guidance, driven by an increase in AI-native customer acquisitions[9] Geopolitical Developments - The U.S. is reportedly preparing to impose new sanctions on Russia amid ongoing geopolitical tensions[6] - The EU has upgraded its economic security framework, indicating a rise in trade disruption probabilities[6]

来源：@中新经纬微博 【#甲骨文跌超5%带崩大盘#！#纳指跌近2%#】美东时间周三(17日)，美股三大股指跳水走低。截至收 盘，道指跌0.47%，标普500指数跌1.16%，纳指跌1.81%。大型科技股集体下跌，特斯拉跌超4%，英伟 达、谷歌跌超3%，苹果、META跌超1%，亚马逊、微软下跌。投资者继续从人工智能（AI）概念股中 撤出资金。甲骨文下跌5.4%。据报道，Blue Owl Capital原计划为该公司在密歇根州的100亿美元数据中 心项目提供融资，但该计划最终未能落地，原因在于市场对甲骨文债务水平和支出规模的担忧。甲骨文 否认了该报道，并表示该项目仍在推进中。但甲骨文的声明未能扭转市场情绪。#马斯克谈盖茨做空特 斯拉# ...

12月18日，美国财经节目主持人、CNBC名嘴Jim Cramer指出，若甲骨文在人工智能投资上展现财务纪 律，可能迫使其他大型云端与科技巨头放慢高达天文数字的AI支出步伐，为目前过热的数据中心建设 潮降温。 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 Cramer表示，甲骨文已背负庞大债务，资产负债表状况并不理想，终将不得不正视债券市场发出的警 讯，放慢投资脚步。他直言，数据中心建设成本极为高昂，即便是最顶尖的建设者也可能失误，甲骨文 无法承担为了OpenAI CEO奥特曼而让财务结构恶化的风险，这也将成为市场摆脱当前AI投资困局的关 键转折点。 ...

美东时间12月17日，美股遭遇"AI信任危机"重击——受甲骨文突发利空拖累，三大股指全线跳水， 纳斯达克指数暴跌1.81%，标普500跌1.16%，道指亦下 挫0.47%。更引人警觉的是， 英伟达、谷歌跌幅均超3%，特斯拉大跌逾4%，苹果、Meta、亚马逊、微软无一幸免，资金正以前所未有的速度撤离AI概念 股。 导火索直指甲骨文：据媒体报道，其密歇根州 100亿美元数据中心项目的关键融资方Blue Owl Capital突然退出，理由是担忧甲骨文债务高企与资本开支失 控。尽管公司紧急否认，称"项目仍在推进"，但市场毫不买账——投资者早已对其 自由现金流连续为负、全年资本支出飙升至500亿美元的激进扩张心生疑 虑。 当"故事"无法兑换成"利润"， 再耀眼的光环，也挡不住资本的无情出逃。 这场暴跌绝非孤立事件，而是AI狂热退潮的集中爆发。过去两年，科技巨头以"算力即未来"为名疯狂烧钱，却迟迟未能将GPU投入转化为可持续盈利。如 今，当甲骨文连基础融资都遭质疑，市场终于意识到： 再宏大的AI叙事，也扛不住现金流的持续失血。 高盛最新报告指出，部分AI企业债务规模三年激增300%，而OpenAI等头部玩家年亏损预计突 ...

Core Viewpoint - The US tech sector is experiencing pressure due to concerns surrounding Oracle's planned $10 billion data center for OpenAI, with reports indicating that Blue Owl Capital will not provide funding for the project [1][3][6] Group 1: Market Reaction - Oracle shares fell as much as 6% on Wednesday, contributing to a decline in the tech-heavy Nasdaq Composite, which shed more than 1% [1][2] - There is a broader rotation occurring in the market, moving away from expensive tech stocks towards smaller-cap and value stocks, as noted by LPL Financial's chief technical strategist [2][3] Group 2: Oracle's Situation - Reports indicate that negotiations between Oracle and Blue Owl Capital have stalled due to concerns over Oracle's significant AI spending and increasing debt levels [3][6] - Oracle has disputed the Financial Times report, asserting that negotiations for the data center are proceeding as planned and that the development partner selected a different equity partner [4][6] - Despite an aggressive revenue forecast that initially impressed investors, Oracle's stock has declined 45% from its peak in early September, raising concerns about the company's debt in the AI sector [5]

1. Report Industry Investment Ratings No relevant content provided. 2. Core Views of the Report - Short - term, the RMB is likely to be moderately strong against the US dollar, mostly in a low - volatility range with limited trading value. Key factors include clear policy support, enhanced independent exchange - rate fluctuations, and a resonance of internal and external environments. However, potential risks such as high long - position inventories of USD/HKD and the impact of the Bank of Japan's interest - rate hikes should be noted [3]. - The entry of the national team only boosts the market sentiment in the short term. The stock index is expected to stabilize and fluctuate in the short term, and the small and medium - cap stock indexes may face pressure [4]. - For the bond market, it is not pessimistic in the medium term. Mid - term long positions can be held, while short - term long positions can consider taking profits [5]. - In the container shipping European route, there is a bull - bear mix. The price is expected to be supported in January due to shipping companies' price - holding intentions, but factors such as weak economic data, sufficient shipping capacity, and the expected resumption of Red Sea routes may bring pressure [6]. - For platinum and palladium, the long - term bullish foundation for platinum remains. In the short term, attention should be paid to the risk of adjustment due to the widening price difference between domestic and foreign markets. For gold and silver, be cautious about short - term callbacks, and maintain a long - term bullish view. For copper, the market sentiment is high, but the price increase did not meet expectations. For aluminum, it is expected to fluctuate strongly in the medium term; alumina is expected to be weak; and cast aluminum alloy is expected to fluctuate strongly. For zinc, it is expected to maintain a wide - range shock in the short term. For nickel and stainless steel, they had a short - term correction, and attention should be paid to the supply and demand situation. For tin, it is expected to be strong in the short term, and it is recommended to enter the market on dips. For lithium carbonate, the short - term price may fluctuate more widely, and there are opportunities for long positions in the long term. For industrial silicon, it is in a supply - demand weak situation, and for polysilicon, the trading logic is mainly technical [9][11][13][16][19][20][22][23][24][26]. - For steel products, the price is expected to fluctuate. The price range of the rebar main contract 2605 is likely between 2900 - 3300, and that of the hot - rolled coil main contract 2605 is likely between 3000 - 3400. For iron ore, the downward space is expected to be limited. For coking coal and coke, if the upward trend continues, it may drive a new round of terminal restocking. For ferrosilicon and ferromanganese, the market is in a situation of weak reality and strong expectation, and there may be a short - term rebound [30][31][32][33][34][36]. - For pulp and offset paper, the short - term strategy is mainly to wait and see. For crude oil, the escalation of the US - Venezuela situation may drive up short - term oil prices. For LPG, the near - term is still supported. For PTA - PX, there is no obvious driver, and it will fluctuate with the cost side. For MEG - bottle chips, the short - term downward driving force is weakened, but the medium - and long - term situation is still under pressure. For methanol, it is recommended to maintain a reverse spread. For PP, the cost side provides strong support, and there may be a short - term rebound. For PE, the spot side is weak, and the supply - demand pressure is large. For pure benzene - styrene, pure benzene shows a near - weak and far - strong pattern, while styrene shows a near - strong and far - weak pattern. For asphalt, if the US does not directly declare war on Venezuela, the upward space is limited. For rubber, both natural and synthetic rubber are expected to maintain a wide - range shock. For urea, the 01 contract is expected to continue to fluctuate. For soda ash, it is waiting for unexpected supply changes. For glass, the near - month 01 will follow the delivery logic, and the far - month is affected by production line cold repairs. For caustic soda, the price is expected to fluctuate weakly. For logs, the current price has limited trading value. For propylene, it is expected to maintain a shock pattern [38][40][42][44][45][46][47][49][50][52][53][54][55][57][58][60][61][62][63][65][67][68][70][71][72][75][76][78][79][80]. - For oilseeds, the external soybean market will focus on demand in the short term and is expected to fluctuate around the cost line in the medium term. The domestic soybean meal will continue the long - spread trend in the short term, and the medium - term supply depends on reserve releases. For oils, the short - term trend is wide - range shock, and attention should be paid to production and biodiesel information. For cotton, it is recommended to build long positions on dips, paying attention to downstream orders and hedging pressure. For sugar, the price will remain weak. For apples, the strategy is mainly to buy on dips. For red dates, the short - term downward space may be limited, and attention should be paid to pre - holiday procurement [81][82][83][84][85][86][87][88][89]. 3. Summary by Relevant Catalogs Financial Futures - **Macro**: Overseas, the Fed cut interest rates in December, the US employment market cooled, and the UK's CPI decline increased the expectation of an interest - rate cut. Domestically, policies are "seeking progress while maintaining stability," and in November, industrial production was resilient but domestic demand was weak [1]. - **RMB Exchange Rate**: The previous trading day, the on - shore RMB depreciated slightly against the US dollar. Key information includes China's fiscal revenue growth, the Fed's potential interest - rate cuts, and the UK's CPI decline. The RMB is expected to be moderately strong in the short term, with potential risks [2][3]. - **Stock Index**: The stock index rose collectively in the previous trading day. The entry of the national team boosted market sentiment, but the index is expected to fluctuate in the short term, and small and medium - cap indexes may face pressure [4]. - **Treasury Bonds**: The bond market rose on Wednesday. The market sentiment improved, and it is not pessimistic in the medium term. Mid - term long positions can be held, and short - term long positions can consider taking profits [4][5]. Commodities Non - ferrous Metals - **Platinum and Palladium**: The night - session prices of platinum and palladium rose to new highs this year. The price is affected by factors such as the Fed's policy, supply - demand fundamentals, and EU policies. In the long term, the bullish foundation for platinum remains, and short - term adjustment risks should be noted [9][10]. - **Gold and Silver**: Gold and silver prices rose. Silver shows a long - squeeze phenomenon. The short - term focus is on callback risks, and the long - term view is bullish [11][12]. - **Copper**: The copper price rebounded. The market sentiment was high, but the increase did not meet expectations. It is recommended to pay attention to the pressure around 93500 - 94000, and downstream enterprises can consider buying futures on dips for hedging [13][14][15]. - **Aluminum Industry Chain**: Aluminum is expected to fluctuate strongly in the medium term; alumina is expected to be weak; and cast aluminum alloy is expected to fluctuate strongly. The fundamentals of aluminum are relatively stable, alumina is in a supply - surplus situation, and cast aluminum alloy has strong support [16][17][18]. - **Zinc**: Zinc prices had support at the bottom and rebounded slightly at night. In the short term, it is expected to maintain a wide - range shock, and there may be entry opportunities [19][20]. - **Nickel and Stainless Steel**: They had a short - term correction. The nickel ore market is expected to be stable and strong, and the stainless - steel market is affected by export regulations. Attention should be paid to the supply and demand situation [20][21]. - **Tin**: Tin prices were strong. It is recommended to enter the market on dips, and the short - term view is not to short [22]. - **Lithium Carbonate**: The price rose sharply. The short - term price may fluctuate more widely, and there are opportunities for long positions in the long term. Attention should be paid to supply shocks and demand declines [22][23]. - **Industrial Silicon and Polysilicon**: Industrial silicon is in a supply - demand weak situation, and polysilicon's trading logic is mainly technical. The long - term price of industrial silicon has limited downward space, and polysilicon's fundamentals are ineffective [24][26]. - **Lead**: Lead prices were weakly volatile. In the short term, it is expected to fluctuate between 16700 - 17500, with strong support around 16500 [27]. Black Metals - **Rebar and Hot - Rolled Coil**: The prices rebounded slightly but faced pressure above. After the central economic work conference, the pricing of the steel market returned to fundamentals. Supply may slow down the reduction, demand is seasonally weak, and inventory is in a de - stocking trend. The price is expected to fluctuate [28][30][31]. - **Iron Ore**: The price rebounded. After macro events, the trading logic returned to fundamentals. Supply is relatively restrained, demand is in a bottom - grinding stage, and the price is supported by coking coal [32]. - **Coking Coal and Coke**: The coking coal price may be affected by winter restocking, and the coke price may continue to decline. If the upward trend continues, it may drive a new round of terminal restocking [33][34]. - **Ferrosilicon and Ferromanganese**: The market is in a situation of weak reality and strong expectation. Supply is likely to continue to decline, demand is expected to decrease, and inventory is at a high level. There may be a short - term rebound [35][36]. Energy and Chemicals - **Pulp - Offset Paper**: Pulp prices fluctuated, and offset paper prices were weakly volatile. The Crofton pulp mill's shutdown was postponed, and the pulp port inventory is still high. The short - term strategy for both is to wait and see [38][40][41]. - **Crude Oil**: Oil prices stopped falling and rebounded. The US - Venezuela tension may drive up short - term oil prices, and attention should be paid to the development of the situation [42][43][44]. - **LPG**: The near - term is still supported. The supply increased slightly, demand remained stable, and attention should be paid to marginal changes [45][46]. - **PTA - PX**: There is no obvious driver, and it will fluctuate with the cost side. PX supply is expected to be high, PTA supply and demand are in a tight - balance situation in December, and the polyester demand is expected to decline seasonally in December [47][49]. - **MEG - Bottle Chips**: The short - term downward driving force is weakened, but the medium - and long - term situation is still under pressure. Supply has shown initial signs of support, and demand is expected to decline seasonally in December [50][52]. - **Methanol**: It is recommended to maintain a reverse spread. Factors such as commodity trends and unloading problems have affected the price, and the unloading problem will be resolved in the future [53][54]. - **PP**: The cost side provides strong support, and there may be a short - term rebound. Supply may be relieved in January, and demand has some support [55][57]. - **PE**: The spot side is weak, and the supply - demand pressure is large. Supply is increasing, and demand is decreasing, especially in the agricultural film sector [58][60]. - **Pure Benzene - Styrene**: Pure benzene shows a near - weak and far - strong pattern, while styrene shows a near - strong and far - weak pattern. The supply of pure benzene is slightly decreasing, and the demand is weak. The supply of styrene has increased, and the demand is stable [60][61]. - **Asphalt**: If the US does not directly declare war on Venezuela, the upward space is limited. The supply and demand have changed slightly, and the US - Venezuela situation may affect the supply of heavy oil [62]. - **Rubber**: Both natural and synthetic rubber are expected to maintain a wide - range shock. Natural rubber is affected by supply - side disturbances and weak demand. Synthetic rubber has limited fundamental improvement, and the upward space is restricted [63][65][67]. - **Urea**: The 01 contract is expected to continue to fluctuate. High supply pressures the price, but export policies relieve the pressure, and the inventory is in a de - stocking trend [68][70]. - **Soda Ash, Glass, and Caustic Soda**: Soda ash is waiting for unexpected supply changes, glass's near - month 01 will follow the delivery logic, and the far - month is affected by production line cold repairs. Caustic soda prices are expected to fluctuate weakly due to supply pressure and weakening demand [71][72][75]. - **Logs**: The current price has limited trading value. It is in a position - shifting market, with the inventory decreasing and the spot price falling [76][78]. - **Propylene**: It is expected to maintain a shock pattern. The supply is relatively loose, demand is stable, and it is affected by the "anti - involution" policy [79][80]. Agricultural Products - **Oilseeds**: The external soybean market will focus on demand in the short term and is expected to fluctuate around the cost line in the medium term. The domestic soybean meal will continue the long - spread trend in the short term, and the medium - term supply depends on reserve releases. The rapeseed meal is in a supply - demand weak situation [81][82]. - **Oils**: The short - term trend is wide - range shock. Palm oil is affected by supply pressure, soybean oil is affected by soybean auctions, and rapeseed oil is affected by global supply. Attention should be paid to production and biodiesel information [82][83]. - **Cotton**: It is recommended to build long positions on dips. The downstream shows resilience, but short - term pressure exists. Attention should be paid to downstream orders and hedging pressure [84]. - **Sugar**: The price will remain weak. Global sugar production and trade data affect the price, such as India's high production and Brazil's high exports [85][86]. - **Apples**: The strategy is mainly to buy on dips. Consumption is sluggish, and inventory is slowly decreasing [87][88]. - **Red Dates**: The short - term downward space may be limited. New - season production is slightly reduced, and new - product supply is sufficient. Attention should be paid to pre - holiday procurement [89].

Market Overview - On December 17, US stock indices collectively declined, with the Dow Jones down 0.47%, the Nasdaq falling 1.81% (down 418.14 points), and the S&P 500 decreasing by 1.16% [1] - Major tech stocks experienced significant drops, including Tesla and Broadcom down over 4%, Google down over 3%, and Meta and Apple down over 1% [1] - Energy and precious metals sectors saw gains, with ConocoPhillips up over 4% and ExxonMobil and BP up over 2% [1] Company-Specific Developments - Oracle's stock fell over 5% after facing a setback in its ambitious AI infrastructure expansion plan, as its largest data center partner, Blue Owl Capital, decided to withdraw support for a $10 billion data center project. However, Oracle stated that negotiations for the project are still proceeding as planned [1] - Nvidia's stock price dropped to $170.94, resulting in a market value loss of $164.8 billion (approximately 1160.8 billion RMB) [3] IPO Activity - Medline Inc. (MDLN) had a successful IPO, rising 41.38% on its first day to $41, after pricing at $29, raising $6.26 billion [5] Geopolitical Impact on Commodities - The geopolitical situation surrounding Venezuela is affecting oil storage capacity, with reports indicating that the country may be forced to shut down some oil wells if storage limits are reached. This has implications for global oil supply and prices [10] - Precious metals prices are rising due to ongoing geopolitical risks and strong demand, with WTI crude oil futures increasing by 3% to $56.8 per barrel and spot gold rising by 0.88% to $4,339.94 per ounce [7][10] Federal Reserve Insights - Federal Reserve official Christopher Waller indicated a moderate approach to interest rate cuts, suggesting that there is still room for reduction given the current economic outlook. He expressed confidence that inflation rates will decline in the coming months [13][14]

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The AI arms race is heating up, and its effects are starting to show up where investors actually care – on the Big Tech balance sheets. According to UBS, global AI capex is now expected to hit $423 billion in 2025, and $571 billion in 2026. By 2030, UBS expects spending to reach $1.3 trillion, implying a 25% compound annual growth rate. Those numbers aren't abstract anymore. They're turning into debt iss ...