Oracle slides
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Oracle shares sink
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Oracle stock plunges over 7% as OpenAI data-center delay to 2028 sparks fresh worries. Oracles $300B AI build-out faces new pressure after Bloomberg reported construction setbacks and a $15B capex jump for FY26.
Oracle exited the recent quarter with non-current notes payable and other borrowings (which are basically long-term debt) of $100 billion, compared to cash and cash equivalents of $19.2 billion.
Oracle (ORCL) shares fell more than 11% in after-hours trading, following the Q2 fiscal 2026 report, a sharp repricing that seemingly contradicts the main narrative of booming AI demand.
Oracle has delayed some of its data center projects set for OpenAI workloads by as much as a year. The company made the move to delay projects from 2027 to 2028, Bloomberg reports, mostly due to labor and material shortages.