Oracle stock may be slumping, but Wall Street’s eyes have pivoted from its equity to its debt—and its credit default swaps.Sure, Oracle stock is down 3.4% at $176.38, its lowest since June 11. And yes,

Trading in Oracle credit default swaps (CDS), which has exploded in the last year and are near their most expensive on record, tell a less upbeat story than its shares. Essentially derivatives that offer insurance against the risk of a bond issuer - such as a company or a government - not paying creditors.

Oracle stock fell 11% today, as investors fret over how much the company is spending to build out AI data centers for OpenAI and others. Oracle Chairman Larry Ellison, whose roughly 40% stake has made

Oracle (ORCL) shares fell more than 11% in after-hours trading, following the Q2 fiscal 2026 report, a sharp repricing that seemingly contradicts the main narrative of booming AI demand.

Oracle’s stock fell more than 12% on Thursday on growing fears about the software giant’s massive AI spending — shaving more than $30 billion off co-founder Larry Ellison’s fortune. The Texas-based tech company’s stock tumbled to $194 a share from around $223 a share at the start of trading — wiping out $90 billion in market capitalization.

Oracle Corp.’s new investment-grade notes are now trading more like junk bonds, as delays on the completion dates for some data centers add to fears about profits from its artificial intelligence investments.

Oracle's capital expenditures (capex) clocked in at $12 billion for the quarter, up from just $4 billion in the same period last year. It was also 50% more than the Street was expecting. Investors are wondering just how sustainable the capex spend is for the company, given how much it is relying on expensive financing.

Most U.S. stocks are rising, but a drop for Oracle is holding Wall Street back as investors question whether its big spending on artificial-intelligence technology will pay off