Arthur Hayes has described the current artificial intelligence boom as a credit-driven narrative, comparing it to the financial landscape of 2008 rather than the earnings-focused era of 2000.
According to a Reuters analysis, Oracle's debt was approximately 4.3 times its earnings before interest, taxes, depreciation, and amortization (EBITDA).
The AI boom is a credit story like 2008 and not an earnings story like 2000.
4.3x
Oracle's debt relative to EBITDA, according to a Reuters analysis
