Oracle Stock Heads for Worst Quarter Since 2001 as AI Spending Fears Collide With OpenAI, TikTok, and Hollywood Bets
Oracle shares have fallen about 30% this quarter, putting the stock on track for its steepest quarterly drop since 2001. Investors are concerned about the company’s ability to fund large AI data-center projects without straining its finances. Oracle reported fiscal Q2 revenue of $16.1 billion, up 14%, and a cloud backlog of $523 billion, up 438% year over year.