Oracle hit hard in Wall Street’s tech sell-off over its huge AI bet

Oracle's aggressive move into artificial intelligence (AI) with plans to spend billions on chips and data centers has caused concern among investors, leading to a significant drop in its stock value. The company's shift to AI, particularly through deals with OpenAI, has raised worries about its capital-intensive strategy and potential lack of value creation. Oracle's stock has fallen 25% in the past month, with its debt prices also declining. The company's late entry into cloud computing and heavy focus on AI have further fueled investor apprehension about its future success, especially if AI start-ups like OpenAI fail to deliver on their promises.