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Luke Kawa

Oracle rallies after announcing plan to raise up to $50 billion in debt and equity this year to fund its AI ambitions

On Sunday evening, Oracle told investors just how much money it’s going to need to raise from them to fund its data center expansion efforts.

Management said it plans to raise $45 billion to $50 billion this calendar year, split roughly equally between debt and equity in a bid to maintain its investment grade rating.

The lion’s share of the equity raise ($20 billion) will come from an at-the-money offering that enables the firm to opportunistically issue shares. This year’s debt issuance will come in one fell swoop, per the company, and happen early in the year. Accordingly, the company announced an eight-part US dollar bond offering on Monday.

Carl Quintanilla Vital Knowledge ORCL
Source: Bluesky

Shares are up 5% in the premarket.

Traders seem to be looking on the bright side: at least this is an answer. During the conference call that followed Q2 results in December, Oracle said that capex for the fiscal year would be $15 billion higher than previously anticipated. When asked how much money the company would need to raise, CEO Clay Magouyrk said, “It’s hard to answer that question exactly,” before saying he thought it would be “less, if not substantially less” than $100 billion in order to complete its multiyear AI build-out.

“Oracle is raising money in order to build additional capacity to meet the contracted demand from our largest Oracle Cloud Infrastructure customers, including AMD, Meta, NVIDIA, OpenAI, TikTok, xAI and others,” per the press release.

Put it in alphabetical order all you want — we all know who your biggest customer is!

Oracle’s (over)reliance on OpenAI as a source of future revenues has prompted markets to view the firm as less creditworthy. But the company’s long-term bonds are also rallying sharply on Monday, presumably because the company is not depending only on debt to raise money.

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Luke Kawa

Alphabet gains on report that Anthropic’s committed to spending $200 billion on cloud services over the next 5 years

Shares of Google are catching a bid in postmarket trading after The Information reported that Anthropic plans to spend $200 billion on Google Cloud over the next five years, citing a person with knowledge of the situation.

That would amount to more than 40% of its $462 billion backlog as of the end of Q1, which nearly doubled from $240 billion in Q4.

The relationship between the two companies has been deepening in recent weeks, with Google reportedly planning to invest up to $40 billion in Anthropic, but this reports puts a firm price tag on how much the AI chatbot developer will be paying out to the hyperscaler.

Last year, when it was revealed that Oracle’s remaining performance obligations were dominated by OpenAI, the stock gave back some of its massive advance. Counterparty and concentration risk has been an overhang on the cloud giant ever since.

That’s a stark contrast to how traders are behaving today. It’s a sign of how Alphabet is seemingly on much more secure financial footing than Oracle (even after today’s debt offerings!), and also, probably, implies that Anthropic is a more reliable customer than OpenAI. In addition, as The Information noted, Google has more ways to make money off its relationship with Anthropic than Oracle does with OpenAI.

Anthropic has been a victim of its own success: the popularity of Claude Code and Cowork have revealed compute constraints and left users frustrated by caps. In response, the Claude developer has embarked upon a mad scramble for compute, striking or expanding deals with CoreWeave, Amazon, Google, and Broadcom.

OpenAI, on the other hand, is now billing the billions it’s burned on securing compute as a competitive advantage.

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Matt Phillips

Tempus AI drops after reporting better-than-expected Q1 results

Cancer diagnostics company and retail shareholder favorite Tempus AI reported better-than-expected Q1 adjusted EBITDA, earnings, and sales numbers late Tuesday, but the stock still slumped in the after-hours session.

The company reported:

  • Q1 revenue of $348.1 million vs. FactSet’s expectation of $345.4 million.

  • An adjusted loss per share of $0.13 vs. the $0.20 loss per share estimated.

  • Adjusted EBITDA of -$2.83 million vs. expectations for -$4.95 million, per FactSet.

Since going public nearly two years ago, Tempus has been a volatile stock that has both doubled — and cratered — on multiple occasions. That spectacle has at times captured the attention of retail traders who’ve tried to ride the waves.

The surf has been bad lately, with the shares down about 8% so far this year, and down roughly 50% from its record high on October 8, 2025.

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Luke Kawa

Advanced Micro Devices gains as CPU and GPU demand drive better-than-expected Q2 sales guidance

Advanced Micro Devices is powering higher in postmarket trading after reporting Q1 results that exceeded expectations across the board along with Q2 sales guidance higher than what Wall Street had penciled in.

In Q1, the Lisa Su-run company reported:

  • Revenue of $10.2 billion (compared to analyst estimates of $9.9 billion and guidance for $9.5 billion to $10.1 billion).

  • Adjusted earnings per share of $1.37 (estimate: $1.28).

For Q2, management projected sales in a range of $10.9 billion to $11.5 billion (estimate: $10.5 billion) with an adjusted gross margin of about 56% (estimate: 55.3%).

Customer engagement for AMD’s AI chips and racks is “strengthening,” according to CEO and Chair Lisa Su, with “leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory.”

The chip giant is not just the No. 2 in GPUs but also CPUs, which appear to be in shortage thanks to compute demands of AI agents.

AMD was up 80% from March 30 through Tuesday’s close, and its 250% gain over the past year has left Nvidia and Broadcom’s 70% and 110% rallies, respectively, in the dust.

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Paige Oamek

Match Group earnings beat Wall Street’s expectations

Tinder is so back.

Match Group rose more than 4% in postmarket trading Tuesday after reporting Q1 earnings that beat Wall Street’s expectations. The dating app conglomerate reported:

  • Revenue of $864 million (compared to analyst estimates of $854.8 million and guidance for $850 million to $860 million).

  • Adjusted EBITDA of $343 million (estimate: $317.3 million, guidance for $315 million to $320 million).

  • Adjusted earnings per share of $0.68 (estimate: $0.61).

  • 13.5 million current paying users (estimate: 13.6 million).

The company has been seeking to diversify its user base. “Winning women is critical to us,” CEO Spencer Rascoff told the Financial Times, speaking about the app Tinder in April. “[Achieving] gender parity is very challenging, but we absolutely need to do a better job of driving outcomes for women.”

Though Match doesn’t disclose gender breakdowns, market intelligence platform Sensor Tower estimates that 75% of Tinder’s users are men.

Match also sees queer men as part of this effort to grow its user base. In April, the dating app company invested 100 million in Sniffies, a competitor to Grindr.

In its press release on Tuesday, the company noted a turnaround with Gen Z on Tinder — the dating app that makes up the bulk of its revenue — “which is a clear signal that Tinder’s ecosystem is strengthening.”

With Tinder’s revenue up 2% year over year, the company can breathe a sigh of relief, as it won’t have to lean as heavily on high-growth Hinge (up 28% year over year).

For Q2 2026, Match Group expects total revenue of $850 million to $860 million, in line with analyst estimates of $856 million. 

Meanwhile, the company’s competitor, Bumble, reported on Tuesday a 14% decrease in revenue year over year and a 21% decrease in paying users in the first quarter.

markets
Max Knoblauch

Lucid reports worse-than-expected Q1 loss, revenue

Luxury EV maker Lucid reported its first-quarter earnings after markets closed on Tuesday. Its shares fell more than 2% after-hours, following a 6.5% drop at close.

For Q1, Lucid reported:

  • An adjusted loss of $2.82 per share, compared to the $2.53 loss per share expected by Wall Street analysts polled by FactSet.

  • $282.5 million in revenue, versus the $358.5 million consensus estimate.

Last month, Lucid announced that it produced 5,500 vehicles in Q1 and reaffirmed its full-year production guidance of between 25,000 and 27,000 vehicles.

The company also highlighted its upcoming midsize SUV, with “expected pricing starting under $50,000.” The vehicle is expected to launch before the end of the year and compete with Rivian’s R2 and Tesla’s Model Y.

Q1 marks the first earnings report for new CEO Silvio Napoli, who took over for interim CEO Marc Winterhoff (who’d led the company for more than a year following Peter Rawlinson’s exit). Lucid recently announced an expansion of its robotaxi partnership with Uber, which is now its second-largest shareholder after Saudi Arabia’s PIF sovereign wealth fund.

Lucid shares have had a long stretch of poor performance amid various dilutive events and a broader contraction across the EV industry. The stock is down about 80% from a recent high in July 2025 and down about 40% year to date. As of Tuesday afternoon, the company’s roughly $2.1 billion market cap is less than a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

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