$ORCL now predicted to destroy the global pension system and stock markets through its current collapse that initiated from hiding operating cash flow problems via Enron style accounting of “Customer Pre-Payments with Significant Interest Component” and first Force Majeur announcement of a public company (outside COVID, miners, and drillers) since Enron

New Millenium Prize Problem If OpenAi and Anthropic had ZERO expenses whatsoever it would take both companies 20 years of their current annual revenue run rate to meet the $2.5 Trillion of debt obligations. Both companies are projected to LOSE hundreds of billions of dollars over the next 5-7 years. Make the math work.

Analysts warn that $ORCL faces likelihood of other data center delays and revenue shortfalls that could significantly impact $BE who relies very heavily on the company.

$ORCL bonds crossing 8.3% for the first time after Larry Ellison used the Enron trick (first time anyone did since Enron) of “Customer Pre-Payments with a Significant Interest Component” to hide Operating Cash Flow Problems. Notably Oracle also was the first Publicly Listed US company outside of drillers and Miners (or Covid) to use Force Majeur to avoid paying on a data center lease it couldn’t afford, since… you guessed it… Enron.

Just to clarify: 1. A first lien just gives a lender the highest-priority claim on specific collateral. 2. A first-lien debt doesn't guarantee a full repayment or zero risk. 3. Also, AAA does not mean a thing. It might as well be JUNK. You are welcome.

Here's this week's monologue, covering how $200bn-$300bn of AI GPUs are sitting in warehouses, how hyperscalers are overstating their AI capacity, and why the AI overbuild is magnitudes worse than the Dot-Com era's "dark fiber." piped.video/watch?v=ZFu5Hiw2…

OpenAI and Anthropic off balance sheet $2.5 Trillion debt (equal to 7% National Debt and roughly every hyperscaler combined ; also responsible for nearly all hyperscaler compute commitments) contributes to a D/E ratio that is 5x worse than bankrupt telecom companies of the internet bubble. FIVE TIMES. $META $GOOG $META $ORCL $MSFT $NVDA $AMD

I can no longer fit all $ORCL 8% bonds on a single page. Headed to 9%. It’s been 24 minutes. #Bankruptcysigns

It’s time to investigate $ORCL and Ellison for fraud. Not only are all the bonds now flying to above 8%, we’re heading to 9%.

Outside of a “fraudulent” (unproven) chip deal, paid for by investors, there are essentially no $AMD orders Most companies are using $NVDA VERA Rubin The fraud is insane.

$META bonds fall to speculative junk credit rating levels as company faces severe bankruptcy risks in the next 5 years. As I promised months ago.

Anthropic “profitability” will show that the company was largely working with its hyperscaler RPO partners (also investors) to defraud public investors by deferring payment obligations until after IPO and capital raise is completed. Bookmark it. $NVDA $MSFT $GOOG $AMZN