Oracle Stock Is Down 64% in 10 Months. Is This the Best Buying Opportunity in AI -- or a Falling Knife?

Oracle's stock has plummeted 64% from its September peak despite strong business fundamentals, including 21% revenue growth and a massive $638 billion backlog. However, the company has taken on nearly $130 billion in debt (300% debt-to-equity ratio) to build AI data centers, with roughly $300 billion of its backlog dependent on a single customer: OpenAI. OpenAI's severe unprofitability ($21 billion in losses against $13 billion in sales) and delayed IPO raise concerns about its ability to pay Oracle, making this a risky investment despite attractive valuations.