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12.10.26 - 15:06
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Kapitalmarktprofi Tilmann Galler: Hyperscaler-Emissionswelle: Warum der KI-Boom den Anleihenmarkt verändert (Das Investment)
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Der Aufbau der Infrastruktur für KI prägt längst nicht mehr nur die Aktienmärkte. Weshalb er auch zu einem zentralen Thema am Markt für Investment-Grade-Unternehmensanleihen wird.Das kapitaleffiziente Modell, das die größten US-Technologieunternehmen geprägt hat, verliert an Bedeutung: während die KI-Hyperscaler Alphabet, Amazon, Meta, Microsoft und Oracle die erste Phase des Ausbaus der Künstlichen Intelligenz weitgehend aus ihrem operativen Cashflow finanzierten, nutzen sie nun einen breiteren Mix an Finanzierungsquellen. Denn dieser Ausbau ist zum kapitalintensivsten Investitionszyklus seit dem Telekommunikationsboom um die Jahrhundertwende geworden: Schätzungen zufolge steigen die kumulierten KI-bezogenen Investitionen bis 2030 auf 5,5 Billionen US-Dollar – für......
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12.10.26 - 14:06
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Oracle Sector Perform (DPA-AFX)
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NEW YORK (dpa-AFX Analyser) - Die kanadische Bank RBC hat die Einstufung für Oracle auf "Sector Perform" belassen. Die Aktien der US-Software-Branche hätten sich jüngst gut entwickelt, schrieb Matthew Hedberg in einer am Montag vorliegenden Studie. Der ......
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09.10.26 - 22:00
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"Delayed Revenue, Delayed Cash Flow": Morgan Stanley Warns Oracle Data Center Delays Could Crush Its Debt (ZeroHedge)
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"Delayed Revenue, Delayed Cash Flow": Morgan Stanley Warns Oracle Data Center Delays Could Crush Its Debt
There is a comforting story going around credit desks about Oracle's data center problems: if the buildings are late, the capex is late too, and that buys the balance sheet some time.
Morgan Stanley isn't buying it.
In a new note titled "ORCL Credit: Lighthouse in the Fog" (available to pro subs), MS credit analysts Lindsay Tyler and Benjamin Guerrero pick up where we left off on Tuesday, when we reported that Oracle's 1.3GW "Project Lighthouse" campus in Port Washington, Wisconsin was next in line to slip after Project Jupiter's force majeure.
Their conclusion was blunt: a delay, Tyler told Bloomberg in an interview, "also means delayed monetization and delayed proof of concept, delayed revenue, delayed cash flow." For a company with over $600 billion of future revenue tied to AI data center construction, that's the whole investment case.
That ...
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09.10.26 - 21:18
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OpenAI′s $70B Run Rate Meets AI′s Infrastructure Challenge (Bloomberg)
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loomberg's Ed Ludlow breaks down OpenAI's latest annualized revenue, expected to reach or exceed $70 billion by the end of the year. Plus, Oracle keeps several data centers on track by relying on truck deliveries of natural gas, and a conversation with Kleiner Perkins partner Ilya Fushman on the mega AI IPO pipeline and the future of physical AI. (Source: Bloomberg)...
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09.10.26 - 19:54
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Oracle Trucking Gas to Keep Data Centers on Track (Bloomberg)
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Oracle is using a new power strategy to keep many of its data centers on track: trucking natural gas directly to the server farms. The company is considering using this approach to speed up a build in New Mexico, where a gas pipeline needed to help power one of its crucial data centers is delayed. He joins Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)...
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