@pixelrove
Oracle’s earnings are quietly poking holes in the “AI money machine” narrative.
The big EPS beat wasn’t real growth — it came from a one-off asset sale. Meanwhile, revenue actually missed, which matters when you’re supposed to be riding unstoppable AI demand. On paper, Oracle’s backlog looks massive, but delivering it requires an enormous data center buildout that’s already outpacing revenue growth and margins.
Add in heavy debt and extreme reliance on a single customer, and you’ve got the classic setup: capital spending racing ahead of fundamentals. That’s usually how bubbles start to deflate — not with a crash, but with reality creeping in.
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