Oracle 债券价格远低于面值，融资问题将持续一年之久，公司也在防范可能出现的数据中心延期；说话者怀疑这是类似垃圾债的问题，而非广泛的 AI 债务压力，并认为其违约风险高于一家风险较低的同行，而低于面值的债券可能带来优于股票的总回报。
逐段跳播
我们要谈一谈Cororeef，还有Oracle。
Um, we're going to talk about Cororeef and also uh Oracle as well.
坦白说，这甚至包括Oracle、Paramount或其他公司，这些曾经是不可撼动的巨头，如今却在以远低于面值的价格发行债券。
And that includes even frankly Oracle or Paramount or other companies now that were once sacred cows that are offering bonds well below par.
Oracle的融资问题全年都令人担忧。这是9月24日的最新消息。据对银行家和投资者的采访，Oracle为防范Blue Owl在新墨西哥州开发的一个大型数据中心项目可能出现的延误而采取的自我保护举措，震动了规模达万亿美元的AI基础设施融资市场。
Oracle financing has been an ongoing concern all year. Uh this is the latest September 24th. Oracle's move to protect itself against potential delays at a massive data center project developed by Blue Owl in New Mexico said it chill through a trillion dollar market for AI infrastructure financing according to interviews with bankers and investors.
我开始怀疑，也许这是Cororeweave和Oracle以及类似公司的问题。换句话说，是垃圾债券公司的问题，而不是整体AI、七大科技巨头债务融资的问题，因为显然大公司仍然能够获得资本，我屏幕上显示的正是这一事实。
I'm starting to wonder, okay, maybe this is a Cororeweave and and Oracle problem and others like it. In other words, junk bond companies, not so much an overall AI um you know, mag seven debt financing problems because clearly the big ones still can obtain capital and the fact of doing this that I have on my screen.
再说一次，如果Google、Apple、Soft Bank和Oracle的固定票息债券都以远低于面值的价格交易，那么其中一些债券的总回报率远比现在股市能获得的回报更有吸引力。
Again, if Google and Apple and Soft Bank and Oracle are trading well below par with fixed coupons, the total return on some of these bonds is far more attractive than what you can get in the stock market right now.
Apple的违约风险比Oracle或Paramount要低。
Apple's risk of default is less than say Oracles or Paramount.
这个频道对 $ORCL 的历次判断
David Lin 在这只股票上共 2 条判断，这里只列相邻的几条。