Alphabet vs. Oracle: Here's What the Debt Market Is Saying

The market is, completely understandably, focused on artificial intelligence (AI) hyperscalers to determine whether there's an AI bubble brewing. Those concerns are magnified by the share price performance of the leading hyperscaler companies in 2026 (see chart).The two that stand out the most are Oracle (NYSE: ORCL) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), and a closer look at what bond markets are pricing in for their default risk says a lot about the two companies' prospects and the market's fears over an AI bubble.The underperformance of Oracle and Microsoft (NASDAQ: MSFT) in 2026 is clear in the chart. The most likely reason is that both have significant exposure to OpenAI. Oracle and OpenAI have a massive $300 billion cloud computing agreement whereby the former will build out AI data center infrastructure to sell computing services to OpenAI.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool