Weaker-than-forecast quarterly data for Larry Ellison’s tech company shows slowdown in revenue growth and big rise in spending
Oracle’s shares tumbled 15% on Thursday in response to the company’s quarterly financial results, disclosed the day before.
Roughly $80bn vanish from the value of the business software company co-founded by Donald Trump ally Larry Ellison, falling from $630bn (£470bn) to $550bn and fuelling fears of a bubble in artificial intelligence-related stocks. Shares in the chipmaker Nvidia, seen as a bellwether for the AI boom, fell after Oracle’s.
Continue reading...from The Guardian https://ift.tt/Ckpu8ye
Comments
Post a Comment