Why Oracle's debt load could be your problem

为什么甲骨文的债务负担可能成为你的问题

The Indicator from Planet Money

2026-10-19

8 分钟
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Oracle, the multinational tech giant has taken on a lot of loans to build up its AI capacity. But Oracle’s investors are not happy with this piling debt load. We explain why Oracle is such a pivotal player — and potentially weak link — in the AI-fueled economy. Fact checking by Sierra Juarez. Your Next Listen –How the bond market is handling AI risk? –Over 2,000 episodes in our archive on the NPR App Connect with The Indicator from Planet Money–The Indicator newsletter — a weekly roundup of news, ideas and staff picks. –Instagram, TikTok and YouTube –Find the Planet Money book –Find the Planet Money game, Sell Me A Sasquatch, and other merch at the NPR Shop! Support public media by subscribing to NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include sponsor-free listening. Learn more at plus.npr.org. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy
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单集文稿 ...

  • NPR.

  • Oracle is not like the other children in the big tech company classroom.

  • Sure, the software giant is investing in artificial intelligence and the company's revenue is booming.

  • But Oracle has irked the credit market by loading up on loans to make its data center dreams come true.

  • See, Oracle may be the weak link in a crisscrossing daisy chain of businesses that's holding up the AI boom.

  • My biggest concern in all of this is the circular deals.

  • Oracle's a part of circular deals with OpenAI, but they have one with Meta.

  • If you look, NVIDIA's all over the place in these circular deals, Microsoft's in a few.

  • This is the Indicator for Planet Money.

  • I'm Ricky Mulvey.

  • And I'm Adrian Ma.

  • Oracle is a pivotal player in the artificial intelligence story.

  • And whether you're invested in the company or not, its fortunes could affect you.

  • We'll tell you why after the break.

  • Stay tuned for the following announcements and messages from our sponsors.

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