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Disappointing Oracle results knock $80bn off value amid AI bubble fears

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.

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from The Guardian https://ift.tt/Ckpu8ye
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