AI debt fears ease ahead of Oracle, Alphabet and Amazon updates. Here's what to watch.

A drone view shows a data center at the Google Storey County Campus in the Tahoe-Reno Industrial Center in Sparks, Nevada, Oct. 9, 2026.Daniel Cole | ReutersFears over artificial intelligence debt have eased after a bout of volatility. But more tests for AI debt are coming. Oracle holds its Investor Day on Wednesday. And hyperscalers Alphabet and Amazon.com are scheduled to report quarterly results after the market close on Wednesday and Thursday, respectively.Credit markets are on edge over a flood of AI debt, though fears have eased up a little lately. Meta Platforms' plans for a $95 billion stock offering, announced on Monday, helped bring down its credit-default swap spreads. Those spreads had risen last week when the company reported negative free cash flow in the third quarter. Other CDS spreads had moved higher too, though they have since backed off. Meta's five-year credit default swaps on Oct. 27, 2026Investors had expected Meta to bring a large bond deal to market shortly after its earnings announcement, said Richard Cheng, head of Nuveen's investment-grade corporate sector team. The fact that it wasn't announced came as a relief."Just the absence of the bond deal itself ...