Meta and Oracle are facing heightened scrutiny from credit investors as their capital expenditures balloon to fund data center buildouts. Oracle’s fiscal 2026 capital expenditure reached $55.66 billion, overshooting its own $50 billion target, and the company is eyeing up to $95 billion for fiscal 2027, representing approximately 70% year-over-year growth. S&P Global downgraded Oracle’s credit rating to BBB- in July 2026, placing the company just one notch above junk status. Meta raised $30 billion in the bond market in October 2025, its largest debt offering of the year, to fund its AI infrastructure push, including a $12 billion data center in Texas.
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