OUCH! The cost of insuring Oracle against default has surged to a record after its force majeure notice for Project Jupiter rattled AI data-center debt markets....

OUCH! The cost of insuring Oracle against default has surged to a record after its force majeure notice for Project Jupiter rattled AI data-center debt markets. 5y CDS quoted at 240.7bps imply a 19.1% probability of default by end-2031, assuming 40% recovery. Almost 1 in 5! https://t.co/nAHgRzjodB