Oracle's Default Insurance Hits Record High

Oracle's five-year credit-default swap spread closed at a record 288 basis points on October 15, up from 260 basis points just a week earlier, as investors price in deeper worry over the company's AI spending. The same week, CoreWeave's five-year CDS topped 1,000 basis points, a reminder that Oracle's AI debt stress, while a record for the company, remains far milder than at the junk-rated AI infrastructure lenders financing the buildout. Oracle ($ORCL) is still investment grade; CoreWeave is not.