The rally brought Oracle’s valuation to more than $933 billion, making it the 10th most valuable publicly-listed US company at the time. Added to the mix are circular deals between OpenAI, a private company that’s not profitable, and companies such as Oracle and Nvidia. A measure of Oracle’s credit risk jumped to its highest level since 2009 following the report. Oracle said the negotiations are “on schedule.”It’s also been caught up in a broader selloff in software stocks, which have seen valuations compressed as investor concern about disruption from AI mount. Anthropic’s mid-January release of a new AI tool weighed on software stocks.