$Oracle(ORCL.US) Oracle's aggressive borrowing to bet on AI computing power has triggered a dual crisis of finance and credit. Its stock price has nearly halved from its peak and is seen by the market as a typical example of the AI bubble bursting. I'm not that talented, but here's a simple summary:

Earnings Bomb: Cloud business gross margin plummeted, free cash flow turned negative, financial report fell short of expectations across the board.

​Debt Explosion: Total liabilities exceed $100 billion, leverage ratio far exceeds peers, credit rating on the brink of junk status.

​Financing Breakdown: Multiple banks have stopped loans for data center projects, financing channels are tightening.

​Cutting Losses to Survive: Plans to lay off about 30,000 people, considering selling assets like Cerner to stop the bleeding.

​Stock Price Crash: Market value has evaporated significantly, founder's wealth has shrunk.

In a nutshell: Borrowed too much money for AI, didn't make a profit back, and managed to blow up cash flow and credit first. Oracle is the next Lehman Brothers.