Ratings agency Moody's has pointed to the dangers inherent in Oracle's $300 billion agreement with OpenAI - one of the deals contributing to a staggering $455 billion pipeline of obligations for Big Red's cloud infrastructure.

News of the demand for racks from AI model builders spiked Oracle's share price by 27 percent earlier this month, despite Big Red's muted figures for revenue and profit in its latest quarterly financials.

Moody's said late last week that the OpenAI "contract size is staggering — highlighting the tremendous potential for Oracle's AI Infrastructure. However, the related risks of the build are significant."

It pointed to the significant "counterparty risk" in Oracle's projected growth - the possibility that another party fails to meet its obligations.

"Counterparty

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