Oracle(US:ORCL) Xin Lang Cai Jing·2025-11-30 12:24Group 1 - Morgan Stanley indicates that Oracle's debt risk metrics reached a three-year high in November, raising concerns about its large-scale AI spending plans [1] - Analysts suggest that Oracle's five-year credit default swaps (CDS) may exceed 150 basis points in the short term, potentially approaching 200 basis points if communication regarding its financing strategy remains limited [1] - There is a warning that as market concerns grow over Oracle's excessive debt for AI financing, banks and investors are intensifying hedging operations, with the five-year CDS prices possibly surpassing the record high of 198 basis points set in 2008 [1] Group 2 - Oracle is one of the companies participating in the AI spending race and has quickly become a barometer for AI risk in the credit market [1] - In September, Oracle issued $18 billion in U.S. investment-grade bonds, and in early November, a consortium of about 20 banks arranged approximately $18 billion in project financing loans for a data center park in New Mexico, with Oracle as the tenant [1] - Additionally, banks provided another $38 billion loan package to fund the construction of data centers in Texas and Wisconsin developed by Vantage Data Centers [1][2]