Follow the Money
The circular economy of AI: chipmakers invest in labs that buy chips; clouds fund labs that buy cloud; the same dollars get announced twice. 79 live deals, $2,008B at face value plus 16 with no disclosed figure — each traced to a source. Data as of 2026-08-30 · JSON.
Showing 2 of 82 deals for Oracle. Clear.
Bubble Thermometer: 47/100 — warm
47/100 (warm): "bubble" said 28× this week (up from 1); AI basket +1.8 pts vs QQQ over a month; $0B of deals announced this month.
Components: talk 73 · markets 59 · money 0 (weights 40/30/30). Each input links to where it comes from: "bubble" in this week's feed (28, prior week 1) · the AI basket against QQQ over a month · $0B announced in 2026-09. An attention index from this site's own data; it measures temperature, not the future.
Daily readings since 2026-09-16. JSON
Oracle in focus: its curves keep their colour, the rest fade. The 22 busiest counterparties and the 2 live deals between them that match the filter. Click a company for its page, click a curve to jump to that deal and its source. Curve width scales with the amount (log); colour is the deal type; dashed means reported but not confirmed by the parties; thin means no figure was disclosed.
Announced per month — Oracle
Face value as announced; the grey stubs are deals later cancelled or never closed, which stay out of the total. Click a month to list its deals. Showing 2025-05 — all months.
Biggest counterparties
Announced and reported amounts at face value; "up to" commitments count in full — that is how the headlines count them, and why every row carries its notes. Every company name is a page.
2 deals, with sources
Amounts link to the source they come from; companies link to their pages; types, months and statuses filter the page; the # is the deal's anchor.
| Deal | Amount ▾ | Type | Announced | Source |
|---|---|---|---|---|
| Oracle → Nvidia | $40B Reported (FT): ~400,000 GB200 chips for the 1.2 GW Abilene Stargate site leased to OpenAI for 15 years. | Chip supply deal | 2025-05-23 reported, not confirmed by the parties | DCD, citing Financial Times single-source figure #e3d930 |
| Oracle → Crusoe | undisclosed Oracle is the tenant of Crusoe's 1.2 GW Abilene campus, sub-leased to OpenAI; lease value undisclosed. A planned ~600 MW expansion was dropped in March 2026 after financing talks stalled; Meta was reported in talks for the space. | Compute / cloud contract | 2025-05-21 partly funded | Crusoe newsroom · second source single-source figure #124a71 |
Deal Watch — reported in the last 45 days (automatic, unverified)
Headlines from the feed go through a model that extracts who-pays-whom; a report appears here only when two different publishers agree on the parties and the amounts agree within 25%. Every publisher name links to the headline. Nothing in this box is in the verified graph above until a data review confirms it against a primary source.
No two-source reports in the window — the extractor needs an AI provider key.
The bubble reads
- AI's $600B Question — Sequoia Capital (David Cahn), 2024-06-20. Annualised AI infrastructure spend implies about $600B of yearly AI revenue is needed to earn a return; most of it is missing.
- The GenAI Divide: State of AI in Business 2025 — MIT NANDA, 2025-07. Despite $30-40B of enterprise GenAI spend, about 95% of pilots show no measurable P&L impact.
- Bridging a $1.5tr Data Center Financing Gap — Morgan Stanley Research, 2025-08. About $2.9T of global data-center capex through 2028, only about half fundable from hyperscaler cash flow; the rest must come from bonds, private credit and securitisation.
- $2 trillion in new revenue needed to fund AI's scaling trend — Bain & Company, 6th Global Technology Report, 2025-09-23. Meeting projected 2030 compute demand needs about $2T of annual AI revenue; the industry is about $800B short.
- IMF and Bank of England join growing chorus warning of an AI bubble — IMF Global Financial Stability Report / Bank of England FPC, via CNBC, 2025-10-09. Both flagged AI-concentrated equity valuations comparable to the 2000 dot-com peak and the risk of an abrupt correction.
- World Outlook: '1999 meets 1990' — Deutsche Bank Research (Jim Reid), via Investing.com, 2026-06-06. Frames 2026 as 1999-style tech enthusiasm colliding with a 1990-style oil shock, with an AI investment boom propping up US growth.
Method: a deal is listed only when it traces to a press release, an SEC filing, or top-tier reporting, with its date and status. Amounts are as announced or credibly reported; status says whether a deal closed, is staged, or was only reported. Not investment advice.