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S&P cites capex guidance of $90 to $95 billion and reliance on OpenAI for about half the backlog.","major":true,"approxDate":false,"source":{"name":"BondbloX","url":"https://bondblox.com/news/oracle-downgraded-to-bbb-by-sp/"}},{"date":"2026-07-17","entities":["coreweave","meta"],"market":false,"title":"Meta starts renting out GPUs","detail":"Meta Compute turns one of CoreWeave's biggest customers into a competitor. CoreWeave's CDS goes from 589 to 967 in four weeks.","major":true,"approxDate":false,"source":{"name":"TechTimes","url":"https://www.techtimes.com/articles/322222/20260730/coreweave-cds-hits-50-default-odds-bond-market-calls-time-gpu-debt-spiral.htm"}},{"date":"2026-07-20","entities":["oracle"],"market":false,"title":"Oracle passes 200 bps","detail":"About 203, the highest in records going back to 2008.","major":false,"approxDate":false,"source":{"name":"GuruFocus via Yahoo Finance","url":"https://finance.yahoo.com/technology/ai/articles/oracle-debt-risk-hits-record-165937777.html"}},{"date":"2026-07-20","entities":["coreweave"],"market":false,"title":"A $2.6 billion CoreWeave loan is repriced in lenders' favor","detail":"It clears at a wider margin and a deeper discount, with a cash lockbox and a debt-service covenant added.","major":false,"approxDate":false,"source":{"name":"MarketWise","url":"https://marketwise.com/investing/coreweave-stock-the-2-6-billion-debt-signal-the-ai-bubble-is-ignoring/"}},{"date":"2026-07-23","entities":["alphabet"],"market":false,"title":"Alphabet's first negative free cash flow","detail":"Capex guidance goes to $205 billion, the third increase of the year. The stock falls 7%.","major":false,"approxDate":false,"source":{"name":"Semafor","url":"https://www.semafor.com/article/07/23/2026/alphabets-free-cash-flow-turns-negative"}},{"date":"2026-07-27","entities":["nvidia"],"market":false,"title":"Nvidia's CDS jumps on backstop reports","detail":"Bloomberg reports AI infrastructure deals that could top $750 billion, including a possible Nvidia backstop for OpenAI data-center debt.","major":true,"approxDate":false,"source":{"name":"Investing.com","url":"https://www.investing.com/news/stock-market-news/nvidias-rising-cds-the-talk-of-wall-street-amid-circular-financing-fears-4816626"}},{"date":"2026-08-10","entities":["nvidia"],"market":false,"title":"Nvidia sets up a $500 billion chip-financing platform","detail":"It includes up to $125 billion of residual-value guarantees on GPU loans.","major":false,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/10/24/nvidias-role-as-ai-financier-faces-first-big-test-as-neoclouds-take-market-hit.html"}},{"date":"2026-08-20","entities":["broadcom"],"market":false,"title":"Broadcom seeks up to $100 billion of off-balance-sheet chip debt","detail":"Vehicles partly guaranteed by Broadcom would lease chips to customers including Anthropic.","major":true,"approxDate":false,"source":{"name":"Crypto Briefing","url":"https://cryptobriefing.com/broadcom-cds-record-debt-deal/"}},{"date":"2026-09-12","entities":["softbank"],"market":false,"title":"Altman says OpenAI will not list in 2026","detail":"That removes the exit SoftBank was counting on. Its shares fall as much as 13% and the CDS reaches 384.6.","major":true,"approxDate":false,"source":{"name":"Startup Fortune","url":"https://startupfortune.com/softbanks-credit-default-swaps-hit-a-three-year-high-over-its-openai-bet/"}},{"date":"2026-09-16","entities":[],"market":true,"title":"Apollo: this is not bank hedging","detail":"Torsten Slok notes the gap between hyperscaler and bank CDS has gone from about zero to about 60 bps in a year.","major":false,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/09/16/hyperscaler-debt-signals-warning-sign-apollo-cautions.html"}},{"date":"2026-09-21","entities":["nvidia"],"market":false,"title":"Nvidia joins the investment-grade CDS index","detail":"DTCC data shows $6.9 billion of Nvidia protection traded in six months.","major":false,"approxDate":false,"source":{"name":"Bloomberg via Zhitong/Webull","url":"https://www.webull.com/news/15630193274717184"}},{"date":"2026-09-24","entities":["oracle"],"market":false,"title":"Force majeure notice on a New Mexico Stargate site","detail":"Oracle warns of possible power delays. The CDS sets a record and its 2056 bonds yield more than 8% for the first time.","major":true,"approxDate":false,"source":{"name":"TipRanks","url":"https://www.tipranks.com/news/oracle-credit-default-swaps-hit-record-high-as-2056-bond-yield-tops-8"}},{"date":"2026-09-24","entities":["softbank"],"market":false,"title":"SoftBank borrows $11.1 billion at record coupons","detail":"One note pays 9.75%, the highest in the company's history. The money funds the last OpenAI tranche.","major":false,"approxDate":false,"source":{"name":"BigGo Finance","url":"https://finance.biggo.com/news/e9b1754d-d58b-48ff-a5e4-31cf57f44639"}},{"date":"2026-10-05","entities":["broadcom"],"market":false,"title":"Banks start syndicating $42 billion of Broadcom-backed loans","detail":"The loans buy Broadcom chips for lease to Anthropic.","major":false,"approxDate":false,"source":{"name":"TechTimes; IFR","url":"https://www.techtimes.com/articles/328625/20261006/broadcom-anthropics-chip-supplier-lender-debt-guarantor-60-billion-syndication-begins.htm"}},{"date":"2026-10-08","entities":["oracle","broadcom"],"market":false,"title":"Oracle 261, Broadcom 136","detail":"Both records. The 10-year Treasury yield had reached 5.36% the day before.","major":false,"approxDate":false,"source":{"name":"The Hedgeberg; Gate News","url":"https://www.thehedgeberg.com/p/the-credit-market-gives-oracle-a"}},{"date":"2026-10-13","entities":["coreweave"],"market":false,"title":"A chart of CoreWeave's 15% bond yield goes viral","detail":"Chamath Palihapitiya posts it with a thread asking whether the build-out is a private-credit bubble.","major":false,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/10/14/coreweave-stock-bond-yields-ai-debt.html"}},{"date":"2026-10-14","entities":[],"market":true,"title":"A hot inflation print sets off the selloff","detail":"Headline CPI rises to 3.7% and rate-hike bets return. CoreWeave falls 15.5% and its CDS crosses 1,000.","major":true,"approxDate":false,"source":{"name":"INDmoney; TokenPost","url":"https://www.indmoney.com/blog/us-stocks/ai-stock-sell-off-inflation-rate-hike-fears"}},{"date":"2026-10-15","entities":["coreweave"],"market":false,"title":"CoreWeave hits 1,194.5 intraday","detail":"Bloomberg puts the implied odds of default within five years above 60%. Jensen Huang says no backstop is needed.","major":false,"approxDate":false,"source":{"name":"Bloomberg","url":"https://www.bloomberg.com/news/articles/2026-10-15/coreweave-risk-gauge-hits-record-pricing-60-odds-of-default"}},{"date":"2026-10-19","entities":[],"market":true,"title":"Stocks bounce and credit does not","detail":"The Nasdaq gains 1% while Oracle's CDS widens past 315.","major":false,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/10/19/coreweave-oracle-ai-credit-stress.html"}},{"date":"2026-10-22","entities":["meta"],"market":false,"title":"Meta: negative free cash flow, $825 billion of commitments","detail":"Capex guidance rises again and the CDS sets a record.","major":true,"approxDate":false,"source":{"name":"CNBC; Bloomberg; Reuters","url":"https://www.cnbc.com/2026/10/22/meta-stock-q3-earnings-free-cash-flow.html"}},{"date":"2026-10-26","entities":["meta"],"market":false,"title":"Meta plans a $95 billion equity raise","detail":"Stock instead of an expected bond deal. Its CDS falls back.","major":true,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/10/26/meta-stock-offering-ai.html"}},{"date":"2026-10-26","entities":["broadcom"],"market":false,"title":"The $63 billion Broadcom-Anthropic chip financing is announced","detail":"Broadcom supports the residual value of the chips for first-lien lenders.","major":false,"approxDate":false,"source":{"name":"WinZheng","url":"https://www.winzheng.com/en/article/broadcom-63-billion-anthropic-chip-financing-spv-wall-street"}},{"date":"2026-10-28","entities":["oracle"],"market":false,"title":"Oracle caps fundraising at $20 billion","detail":"At its investor day Oracle says that is the last capital it needs for this cycle and forecasts positive free cash flow in the second half of fiscal 2028.","major":true,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/10/28/oracle-forecast-growth-2030.html"}},{"date":"2026-10-29","entities":["alphabet"],"market":false,"title":"Alphabet misses and its CDS jumps","detail":"Free cash flow is minus $9.07 billion. The CDS rises to about 84, then a record near 91 a day later.","major":true,"approxDate":false,"source":{"name":"Bloomberg via Business Standard","url":"https://www.business-standard.com/world-news/credit-swaps-for-tech-companies-reach-records-amid-supply-concerns-126103000211_1.html"}},{"date":"2026-10-29","entities":["microsoft"],"market":false,"title":"Microsoft sells $25 billion of bonds","detail":"Its first US deal since 2017, a day after earnings.","major":false,"approxDate":false,"source":{"name":"24/7 Wall St.; The Next Web","url":"https://247wallst.com/investing/2026/10/30/microsoft-is-borrowing-25-billion-for-ai-its-first-bond-sale-since-2017/"}},{"date":"2026-10-30","entities":["meta"],"market":false,"title":"S&P puts Meta on negative outlook","detail":"The rating stays AA-. S&P cites heavy capex and negative free cash flow.","major":false,"approxDate":false,"source":{"name":"CNBC; Bloomberg via Yahoo Finance","url":"https://finance.yahoo.com/technology/ai/articles/meta-credit-rating-outlook-downgraded-215600853.html"}},{"date":"2026-10-30","entities":["intel","broadcom"],"market":false,"title":"Intel and Broadcom set records","detail":"Intel jumps to 123.5, its biggest one-day move since 2022. Broadcom reaches 175.4.","major":false,"approxDate":false,"source":{"name":"Crypto Briefing","url":"https://cryptobriefing.com/intel-credit-default-swap-record-high/"}},{"date":"2026-11-02","entities":["oracle"],"market":false,"title":"Oracle uses its whole $20 billion cap in a day","detail":"It files to sell $10 billion of stock and $10 billion of bonds. Shares fall 8.8%.","major":false,"approxDate":false,"source":{"name":"CNBC","url":"https://www.cnbc.com/2026/11/02/oracle-files-to-sell-20-billion-in-new-stock-bonds-to-finance-ai-buildout.html"}},{"date":"2026-11-03","entities":["meta"],"market":false,"title":"Meta sells $15 billion of bonds","detail":"Its 2056 notes price 2.2 percentage points over Treasuries, almost 0.9 point wider than a comparable note it sold in April.","major":false,"approxDate":false,"source":{"name":"24/7 Wall St.; Bloomberg via Yahoo Finance","url":"https://247wallst.com/investing/2026/11/05/meta-paid-1-4-times-what-alphabet-did-to-borrow-in-euros/"}},{"date":"2026-11-03","entities":[],"market":true,"title":"Midterms: voters back data-center limits","detail":"Restrictions pass in 40 of 41 local measures and Texas elects a governor who has called for a moratorium.","major":false,"approxDate":false,"source":{"name":"MLQ.ai weekly review; BigGo Finance","url":"https://mlq.ai/news/the-week-in-ai-nov-2-8-voters-turn-on-data-centers-ai-stocks-slide-and-the-buildouts-financing-gets-more-expensive/"}},{"date":"2026-11-05","entities":[],"market":true,"title":"The Nasdaq 100 falls 6.4% and the credit index moves 3 bps","detail":"Two days after the midterms. CoreWeave's CDS spikes above 1,289 and Oracle's is near 305, but CDX IG only goes from 59 to 62.","major":true,"approxDate":false,"source":{"name":"BigGo Finance","url":"https://finance.biggo.com/news/6913e178-1530-403a-b670-559a5c7764a5"}},{"date":"2026-11-06","entities":["softbank"],"market":false,"title":"SoftBank at 466, widest since 2022","detail":"Reuters cites record-yield borrowing for the OpenAI stake and the OpenAI listing slipping to 2027.","major":false,"approxDate":false,"source":{"name":"Reuters","url":"https://www.thestar.com.my/tech/tech-news/2026/11/06/softbank-credit-risk-jumps-to-4-year-high-as-ai-fears-roil-market"}},{"date":"2026-11-09","entities":["coreweave","microsoft"],"market":false,"title":"Microsoft is reported to be reviewing its neocloud deals","detail":"Bloomberg says it is frustrated with cost and delays at several providers.","major":false,"approxDate":false,"source":{"name":"Benzinga","url":"https://www.tradingview.com/news/benzinga:9811a3f6d094b:0-coreweave-stock-hits-turbulence-monday-what-s-going-on/"}}],"dropped":[{"entity":"oracle","date":"2025-11-20","bps":87,"why":"Secondhand and 20 bps below every other reading that week.","source":{"name":"Lex Substack","url":"https://lex.substack.com/p/ai-oracles-credit-default-swaps-and"}},{"entity":"oracle","date":"2025-11-21","bps":118,"why":"Social post, placed on a guessed day.","source":{"name":"The Kobeissi Letter","url":"https://x.com/KobeissiLetter/status/1993084966507626949"}},{"entity":"oracle","date":"2025-12-11","bps":112,"why":"No provider or time; far below the other three readings that day.","source":{"name":"Pepperstone","url":"https://pepperstone.com/en-au/analysis/navigating-markets/oracle-earnings-miss-rising-capex-weak-cash-flow-and-higher-cds-spark-investor-concerns/"}},{"entity":"oracle","date":"2025-12-01","bps":155.27,"why":"Month-only figure with no provider.","source":{"name":"TradingKey","url":"https://www.tradingkey.com/analysis/stocks/us-stocks/261478540-oracle-orcl-stock-debt-tradingkey"}},{"entity":"oracle","date":"2026-03-28","bps":191,"why":"Posted after the record close; an older snapshot.","source":{"name":"The Kobeissi Letter","url":"https://x.com/KobeissiLetter/status/2038023871690100765"}},{"entity":"oracle","date":"2026-03-31","bps":198,"why":"Restates the March 27 record.","source":{"name":"BondbloX","url":"https://bondblox.com/news/oracles-5y-cds-spread-hits-all-time-highs/"}},{"entity":"oracle","date":"2026-04-10","bps":198,"why":"Restates the March 27 record.","source":{"name":"The Motley Fool via Yahoo Finance","url":"https://finance.yahoo.com/markets/stocks/articles/oracles-credit-risk-time-high-021100593.html"}},{"entity":"oracle","date":"2026-07-24","bps":203,"why":"Restates the July 20 figure.","source":{"name":"The Kobeissi Letter","url":"https://x.com/KobeissiLetter/status/2080638100204568914"}},{"entity":"oracle","date":"2026-07-28","bps":210.6,"why":"Social post, no provider.","source":{"name":"The Short Bear","url":"https://x.com/TheShortBear/status/2082173351192047817"}},{"entity":"oracle","date":"2026-07-28","bps":212,"why":"Dated only \"late July\".","source":{"name":"Crypto Briefing","url":"https://cryptobriefing.com/ai-hyperscaler-credit-default-swaps-record/"}},{"entity":"oracle","date":"2026-08-08","bps":215,"why":"Probably restates the July 27 figure.","source":{"name":"The Kobeissi Letter","url":"https://x.com/KobeissiLetter/status/2086123017428512828"}},{"entity":"oracle","date":"2026-09-24","bps":220,"why":"\"Above 220\"; the 227.15 record covers the same day.","source":{"name":"Global Markets Investor","url":"https://x.com/GlobalMktObserv/status/2103188468872380716"}},{"entity":"oracle","date":"2026-10-07","bps":260,"why":"Same level as the October 8 close, dated to a research note.","source":{"name":"TechFlow","url":"https://www.techflowpost.com/en-US/newsletter/139471"}},{"entity":"oracle","date":"2026-10-08","bps":260,"why":"Duplicate of the 261 close.","source":{"name":"Securitas Global Risk Solutions","provider":"S&P Global","url":"https://www.securitasglobal.com/risk-perspectives/oracle-cds-record-288-basis-points-ai-debt/"}},{"entity":"oracle","date":"2026-10-01","bps":320,"why":"Month-only; covered by the October record.","source":{"name":"CNBC","url":"https://www.cnbc.com/2026/10/28/oracle-forecast-growth-2030.html"}},{"entity":"oracle","date":"2026-11-02","bps":300,"why":"Read off a chart, not stated.","source":{"name":"Yahoo Finance","provider":"Bloomberg","url":"https://finance.yahoo.com/markets/article/oracle-stock-slides-as-it-borrows-another-10-billion-for-ai-spending-184518137.html"}},{"entity":"coreweave","date":"2026-10-25","bps":1090,"why":"Undated, published on a Sunday; stale.","source":{"name":"Yahoo Finance","url":"https://finance.yahoo.com/markets/options/articles/why-investors-buying-credit-default-115400301.html"}},{"entity":"coreweave","date":"2026-10-30","bps":1088,"why":"Seen only in a search summary; the page would not load.","source":{"name":"Futu News","url":"https://news.futunn.com/en/post/1003657920/default-insurance-costs-for-spacex-and-coreweave-have-skyrocketed-as"}},{"entity":"softbank","date":"2026-03-05","bps":345,"why":"Unnamed provider; Bloomberg has 355 for the same day.","source":{"name":"Kaohoon International","url":"https://www.kaohooninternational.com/markets/578473"}},{"entity":"softbank","date":"2026-09-16","bps":383.2,"why":"Earlier snapshot of the same story as 384.6.","source":{"name":"Seeking Alpha","provider":"CMA","url":"https://www.tradingview.com/news/seekingalpha:c1bc6904b094b:0-softbank-credit-default-swaps-near-three-year-high-amid-openai-funding-push/"}},{"entity":"softbank","date":"2026-11-06","bps":462,"why":"Earlier version of the same Reuters story.","source":{"name":"Reuters","provider":"Markit","url":"https://www.newsweekjapan.jp/articles/-/339291?display=b"}},{"entity":"meta","date":"2026-10-23","bps":64,"why":"Outlier newsletter figure; stale.","source":{"name":"Investing with Data","url":"https://www.investingwithdata.com/p/14-charts-ai-credit-risk-spacexs"}},{"entity":"alphabet","date":"2026-07-29","bps":65,"why":"\"More than 65\"; the 67 record covers it.","source":{"name":"Bloomberg via Financial Advisor Magazine","provider":"Bloomberg","url":"https://www.fa-mag.com/news/cds-market-surges-as-wall-street-picks-ai-s-winners-and-losers-87920.html?section=3&page=2"}},{"entity":"alphabet","date":"2026-10-23","bps":54,"why":"Outlier newsletter figure; stale.","source":{"name":"Investing with Data","url":"https://www.investingwithdata.com/p/14-charts-ai-credit-risk-spacexs"}},{"entity":"alphabet","date":"2026-10-30","bps":91.6,"why":"Duplicate of the \"nearly 91\" record.","source":{"name":"Axios","url":"https://www.axios.com/2026/11/03/ai-bonds-rates-cds"}},{"entity":"amazon","date":"2026-10-23","bps":58,"why":"Outlier newsletter figure; stale.","source":{"name":"Investing with Data","url":"https://www.investingwithdata.com/p/14-charts-ai-credit-risk-spacexs"}},{"entity":"microsoft","date":"2026-10-23","bps":51,"why":"Same newsletter; dropped with the rest.","source":{"name":"Investing with Data","url":"https://www.investingwithdata.com/p/14-charts-ai-credit-risk-spacexs"}},{"entity":"nvidia","date":"2026-06-26","bps":42,"why":"Dated only \"late June\", no data source.","source":{"name":"Unusual Whales","provider":"S&P Global","url":"https://unusualwhales.com/news/nvidia-cds-record-high-ai-deal-talks"}},{"entity":"nvidia","date":"2026-07-29","bps":83.7,"why":"Social post; two wire readings cover the day.","source":{"name":"Global Markets Investor","url":"https://x.com/GlobalMktObserv/status/2087168157031039028"}},{"entity":"nvidia","date":"2026-08-07","bps":82,"why":"Relay of an older chart.","source":{"name":"The Kobeissi Letter via Odaily/KuCoin","url":"https://www.kucoin.com/news/flash/oracle-5-year-cds-surges-70-bps-to-record-215-bps-amid-tech-debt-concerns"}},{"entity":"nvidia","date":"2026-08-26","bps":87,"why":"Social post record claim.","source":{"name":"Global Markets Investor","url":"https://x.com/GlobalMktObserv/status/2092603554968047871"}},{"entity":"nvidia","date":"2026-09-30","bps":87,"why":"Dated only \"late September\"; the month-end 86 covers it.","source":{"name":"IFR","url":"https://www.ifre.com/people-and-markets/2496665/hyperscaler-and-chipmaker-cds-widen-to-record-levels"}},{"entity":"broadcom","date":"2026-10-09","bps":136,"why":"Duplicate of the October 8 record.","source":{"name":"Gate News","provider":"Bloomberg","url":"https://www.gate.com/news/detail/ORCL/oracle-broadcom-cds-spreads-widen-as-ai-debt-hits-500b-in-2026-24838427"}},{"entity":"cdxig","date":"2026-05-22","bps":52,"why":"Derived from a dollar cost; the month-end covers it.","source":{"name":"Bloomberg","provider":"Bloomberg","url":"https://www.gulf-times.com/article/726145/business/hyperscaler-debt-flood-brings-credit-derivatives-bonanza"}},{"entity":"cdxig","date":"2026-09-26","bps":55,"why":"Social post.","source":{"name":"Hedgie","url":"https://x.com/HedgieMarkets/status/2103918659873779811"}}]}