Bloomberg / The Daily Upside · 2026-11-02
Oracle Raises $20 Billion in Debt and Equity at Investor Day, Pledges Positive Free Cash Flow by H2 FY2028
Oracle launched a $10 billion investment-grade bond sale alongside $10 billion in equity on 2 November — its bonds due 2066 now yield ~8.4%, versus ~6.1% for Apple/Microsoft equivalents, and its 5-year CDS hit a 3-year high of 1.25 pp. Demand for the bond sale peaked at $38 billion per Bloomberg, confirming the market will still fund AI capex but at a materially higher risk premium. Oracle has ~$125 billion of total debt (nearly 2x equity) and burned $24 billion in cash last fiscal year; Barclays has flagged a potential cash crunch by late 2026. The simultaneous equity raise signals management is trying to curb further leverage criticism.
Bloomberg / Reuters / SEC Filing · 2026-11-03
Meta Files Five-Part $20 Billion+ Dollar & Euro Bond Sale — Its First Euro Offering Ever
Meta filed a preliminary SEC prospectus supplement on 3 November for five series of senior notes (5–30 year maturities), and separately is preparing its debut 6-tranche euro bond (4–38 year maturities), together targeting at least $20 billion. This follows Meta's $97.5 billion equity raise announced the prior week and a $30 billion bond in 2025 and $25 billion in April 2026 — illustrating the sheer scale and acceleration of AI capex financing. The 30-year tranche is offered at ~250 bps over Treasuries, reflecting rising investor scrutiny of big-tech debt supply. The dollar/euro split also signals Meta is broadening its creditor base internationally for the first time.
Motley Fool / Yahoo Finance / CNBC · 2026-11-03
CoreWeave Bond Yields Hold Near 15% as Credit-Market Stress Remains Elevated; $10.6 Billion Due by End-2027
CoreWeave's 9.625% notes due 2032 are trading at ~$0.80 on the dollar with yields near 15%, firmly in distressed territory for a junk-rated (B+ at S&P) issuer. The company owed $35.6 billion in principal as of 30 June 2026, up from $21.4 billion at end-2025, with $10.6 billion (47% of all maturities) due by end-2027 and interest consuming 21.7% of Q2 revenue. Its Debt/EBITDA stands at 10.3x and Debt/Equity at ~5x. This is the clearest canary in the AI-capex credit cycle: CoreWeave's borrowing stress is already spilling over into Oracle's stock and CDS, raising systemic questions about the entire AI infrastructure debt build-out.