Oracle's stock has fallen 50% from its high of September, despite 41 of 51 Wall Street analysts rating it as a buy with 43% implied upside. The company's $300 billion deal with OpenAI, where investors see circular financing risk, as OpenAI is simultaneously a customer and an investment of the companies funding it. While analysts argue that AI infrastructure demand is fungible and Oracle is undervalued. The shares have fallen nearly 50% since September and dropped 14% in the six sessions following the announcement. Investors are also questioning whether OpenAI can afford to pay for its cloud infrastructure, which has already missed internal revenue and user growth targets. If OpenAI's revenue growth slows and its ability to service contracts weakens, companies that lose a major customer are the ones that lose an investment.