This work studies the constant current stressing effects on the ultrathin (1.7–3 nm) oxides prepared by thermal oxidation of silicon in nitric oxide (N 2O). A simple process evaluation formula for extracting the stress-induced flatband shift is developed and validated with capacitance–voltage measurements. We find that the flatband degradation does not follow the power law, rather an exponential law with a quasi-saturation region is observed as a result of the slow trap generation rate or the generation of positive charge during the constant current stressing. The sources of trap generation are attributed to the Si–Si bonds, P b centers, and nitride-related defects due to the over-constrained silicon atoms in the Si 3N 4 clusters at the interface.