Oracle Declines on Concerns About Fulfilling AI Cloud Demand

(Bloomberg) — Oracle Corp. fell the most in almost nine months after giving its long-range financial outlook, suggesting investors anticipated a bigger boost from its investment in AI infrastructure.

Oracle has inked multibillion-dollar deals to develop data centers to power artificial intelligence work for customers like OpenAI, Meta Platforms Inc. and Elon Musk’s xAI. Last month, the company said the cloud infrastructure business would produce $144 billion in sales by fiscal 2030.