Shares of technology companies rose as fears about an artificial-intelligence bubble subsided.

Shares of Oracle, the business software giant whose aggressive borrowing to fund AI infrastructure development plans was at the center of a recent Wall Street debate about an AI bubble, rose sharply, recouping some recent losses.

One brokerage said it was sticking to its recommendation that clients buy credit-default swaps, used as insurance for missed bond payments. "Key risks in the story include: a funding gap, growing balance sheet, capital expenditure & obsolescence risk, ratings pressure, counterparty risk, and more," said the strategists at brokerage Morgan Stanley.

The recent surge in value of Oracle's credit-default swaps was likely related to hedging activities by its lenders, activity that's likely to continue, the Morgan Stanley strategists said.

Bitcoin, among the first high-risk investments to come under pressure in the recent scare, rallied, testing the $90,000 level, still almost 30% from its recent peak.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

November 26, 2025 17:19 ET (22:19 GMT)

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