THE SQUISHY NUMBER BEHIND THE RISE AND FALL OF ORACLE'S STOCK

Summary from the TLDR AI newsletter

Oracle is down 43% from its September high despite reporting $523 billion in "remaining performance obligations". About $300 billion of that comes from a five-year OpenAI contract, but analysts are skeptical that OpenAI, which only has ~$20B in annualized revenue, will be able to pay. Nvidia's stalled $100 billion OpenAI investment (announced in September but still unsigned) compounds the anxiety over the circular deals plaguing AI infrastructure.