If you want to know whether the AI bubble is bursting, there’s only one publicly traded company that will tell you: Oracle. That’s right, the database company. Oracle has burned its boats and pivoted to AI, but not in any kind of usual way. It is not a foundation model builder like OpenAI or Anthropic, obviously. It’s not quite a neocloud, though it has entered the same bare-metal business as CoreWeave . It is a software-as-a-service company that has made an audacious bet on a very specific