S&P Global sees OpenAI as a "key credit risk" for Oracle and cuts its credit rating

S&P Global has downgraded Oracle's credit rating to BBB- due to OpenAI being a key credit risk. Oracle's AI business is expected to spend $95 billion by 2027, with OpenAI accounting for half of its $638 billion contractual obligations. This puts Oracle in a tougher financial spot than competitors like AWS and Microsoft.