Part 17Capital and credit
How much of the AI buildout is debt the balance sheets do not show yet, and who carries it if a tenant walks away?
The DeepStack callSplitThe risk off the books is still rising.Conviction Moderate (3/5)
Next test · Dec 14, 2026Oracle's second quarter: whether customer prepayments with a financing component pass 40% of operating cash for the six months to November 30, from 49.2% in the quarter to August 31, 2026.
The question, settled in the open Part 17: The Guarantee Has No Date