Add Axios as your preferred source to

see more of our stories on Google.

Illustration: Allie Carl/Axios

Oracle missed its quarterly revenue, pushing its bond yields to their highest levels of the year, a sign that investors are demanding greater compensation for the risk of holding its debt.

Why it matters: The spotlight is on Oracle, but the market move underscores a broader shift in how tech giants are perceived: from huge cash generators to companies making enormous AI bets using debt.