Oracle’s CDS has surged sharply since mid-2025, driven by aggressive AI/cloud capex, rising debt, and execution concerns, with spreads near post-2009 highs and elevated trading volumes.
Google’s CDS has modestly widened in 2025 (led by AI capex concerns) but stayed well contained versus peers, reflecting its strong balance sheet, robust FCF, and top-tier credit profile.
Relative Context
Google CDS remains among the lowest for large tech, reflecting its:
- Net cash position (vs net debt at peers)
- Diversified revenue streams
- Strong free cash flow generation
- Conservative leverage metrics
goog are brilliant
The market is not confident to Oracle. Is it risky?
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