19 hours ago
- Oracle's profitability and growth are myths; it is actually in a death spiral sustained by acquisitions, debt, and customer exploitation.
- Revenues have only grown through major acquisitions like Sun Microsystems and Cerner, with Cerner's lower margins hurting profitability.
- Oracle has spent over $99 billion on AI GPU capex since 2020, leading to negative free cash flow for the first time since 2001.
- The company's cloud infrastructure is a latecomer, only boosted by AI GPU demand.
- Oracle's massive commitment to build 7.1GW data center capacity for OpenAI is financially dangerous and likely unsustainable.
- The article concludes that Oracle is dying and AI will be the final blow.