On September 11, Oracle stock stood at about $308, following a giant leap based on reports of a deal with OpenAI. Euphoria was in the air; the stock was up for 43%.

But I wasn’t buying, and I wrote an essay here called Peak Bubble, which read it in part:

OpenAI doesn’t have $300 billion dollars

They don’t have anywhere near $300 billion dollars

By their own (presumably optimistic) projection, they won’t turn a profit until 2030.

And all this from a company thought (or claimed) that GPT-5 was going to be tantamount to AGI (spoiler alert: it wasn’t)

For good measure Oracle doesn’t have the chips they would need to fulfill the contracts, or even the cash to buy them.

I won’t say that it is all make-believe, but, well, you do the math…

If Oracle actually collects its $300 billion, I will truly be astounded.