Oracle Stock Plunges: Billion-Dollar AI Bet Frightens Investors
Reading Time: 7 minutes
Oracle wanted to demonstrate with its new quarterly figures that the gigantic AI offensive of the company is on track. However, the signal was anything but euphoric on the stock market: the stock plunged about 11 percent in after-hours trading after the software and cloud company narrowly missed revenue estimates while simultaneously drastically raising its investment plans for AI data centers. In the second business quarter, which ended on November 30, revenue rose by about 14 percent to approximately $16.06 billion, slightly below expectations....
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