Core Insights - Traders are pricing a 77% chance that Oracle will exceed the $1.71 EPS consensus, but historical performance indicates that even if Oracle beats EPS, the stock may still decline due to revenue misses [1] - The significant gap in trader sentiment regarding Oracle's discussion of "OpenAI" (92%) versus "Stargate" (64%) suggests that while OpenAI will likely be a focal point, Stargate may be avoided due to negative press [2] Financial Performance - Oracle's backlog has reached 90%, increasing by 14 points, with remaining performance obligations hitting $523 billion last quarter, a 438% year-over-year increase [4] - Despite the large backlog, Oracle has missed analyst revenue estimates in eight of the last ten quarters, raising concerns about the conversion of backlog into revenue [4] Strategic Partnerships - The $500 billion Stargate venture has stalled, lacking a dedicated team and clear operational roles, leading to gridlock in the partnership [3] - In contrast, OpenAI has secured a separate $30 billion-per-year deal with Oracle for 4.5 gigawatts of capacity, expanding its compute capabilities outside the Stargate framework [3] Market Sentiment - The upcoming earnings call is expected to focus more on narrative rather than just financial numbers, with particular attention on how Oracle's leadership addresses the challenges surrounding Stargate [6] - If Oracle's leadership avoids tough questions regarding capital expenditures and lost data center deals, even a strong earnings report may not prevent a stock decline [7]

'Seriously, look: Starknet has shipped the start of its BTCFi era, ecosystem metrics are going bananas, new products are launching every week, LayerZero + Stargate + CCTP v2 + native USDC are all coming in the next few weeks. Privacy is also coming. Still early. Always early.' https://t.co/ezeM035bqU ...

What does Stargate actually look like? https://t.co/NLMmVqsO6i ...

Security Concerns - LayerZero processed $82 million in stolen funds [1] - $2.8 billion total value locked (TVL) shares pools with crime [1] - Stargate contamination technically exposes every liquidity provider (LP) to the Office of Foreign Assets Control (OFAC) [1] On-Chain Activity - Wintermute moved 6,000 ETH (Ethereum) [1] - Blacklisted wallets are contaminating Stargate pools daily [1]

we are planning to significantly expand the ambitions of stargate past the $500 billion commitment we announced in january. ...

Exclusive: Stargate, an effort to supercharge the U.S.’s artificial-intelligence ambitions, has sharply scaled back its near-term plans https://t.co/Q52xVKMpKA ...