Oracle shares slide on $15B increase in data center spending

Oracle's stock fell 11% after reporting lower-than-expected revenues and announcing a $15 billion increase in data center spending to support AI initiatives. The company's revenue for the last quarter was $16.1 billion, up 14% year-over-year but below analyst estimates. Oracle raised its capital expenditure forecast by over 40% to $50 billion for the fiscal year, with a significant portion allocated to data center construction. Despite aggressive efforts to compete with major cloud players like Google and Amazon in providing computing power for AI, Oracle's stock has fluctuated as investors express concerns about the company's debt increase and infrastructure investments.