Oracle 计划在今年通过债务和股权组合筹集 450 亿至 500 亿，以加速面向 AI 工作负载的云建设，这一举措凸显了在算力竞赛中保持竞争力的成本。公告发布后股价波动，投资者在衡量融资规模、摊薄前景以及标志性 AI 客户的需求是否会足够快到位以覆盖费用。

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The deal positions Snowflake to compete with Databricks in AI while giving OpenAI enterprise distribution beyond Microsoft’s ecosystem.