orcl, meta, and NVDA--investors major concerns

1.  Orcl----debts has raised to much and too fast, and need to tap more debts to fulfil its AI expansion plan.

The bond investors has become little worry. Orcl CDS spread almost doubled in last several week， from 50 pts to 110 pts.  Orcl's debts/ equity ratio has raised so much that a lot equity investors do not feel comfortable.

2. Meta---also debts. META used SPV to tap debts. while the demand was great but equity investors now has some question about the AI expansion plan. They plan to tap more debts in 2026.

equity investor has been worry about that a. they may be too agressive, b. does not show clear path of monetizing the AI investment ; c. Their failed reality lab project make a lot of investors think that they may be repeating past mistake. d. Their share class and the voting structure, make some investors feel like even they think the AI expansion is too agressive, but the decision power is dictated by one person.

 3. Nvda---its narrative is somewhat challenged by google's new AI model. a. not only good used in house chip; b. but their chips are also ASICs, not general pursose; c. and get much better result with lower cost.  Googl's success may have shown the indusrty that their is a different way of building and training LLM and AI. That is not a small challenge to NVDA. 

This is probably why AVGO trade very well.

This is just a summery of what investors are thinking or worrying about those companies. They are not trade recommendation. And invesoter can be contrarian.