The tech giant is spending billions to chase the AI boom, and investors are nervous, creating a classic dilemma for dip-buyers.

Oracle (ORCL) just told Wall Street two things at once. First, that demand for its AI infrastructure is exploding, with a backlog of customer commitments swelling to an almost unbelievable $638 billion. Second, that it plans to spend a fortune to meet that demand, guiding to a near-term dip in profitability. The market heard the second part loudest, sending the stock down sharply despite record results. The stock has fallen about 26% over the past few weeks.

That pullback leaves you with a classic question. When a company sells off not because its business is failing, but because of the sheer cost of its…