Oracle Corp.’s new investment-grade notes are now trading more like junk bonds, as delays on the completion dates for some data centers add to fears about profits from its artificial intelligence investments.
Extending declines after quarterly earnings earlier this week, paper losses for investors that bought the $18 billion of high-grade notes that Oracle sold in September now totals about $1.35 billion, according to Bloomberg News analysis. The bonds were issued as the company ramps up spending on AI projects.
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