针对市场担忧甲骨文为扩展AI算力与数据中心能力可能需要筹集巨额债务，Ives称这些忧虑被夸大。他 指出，甲骨文实际需要融资的规模可能远低于外界传闻的1000亿美元。"从我们的角度看，这属于'高质 量烦恼'，因为需求太强劲了，这是公司在AI浪潮中必须处理的挑战。" 法国巴黎银行分析师Stefan Slowinski也持类似观点，并表示甲骨文本季度的表现，尤其是云基础设施 (OCI)收入，让市场松了一口气。他指出，即便市场担心关键数据中心Abilene出现建设延迟，但本季度 OCI以固定汇率计算实现66%的增长，表现超过预期。他补充称，受资本开支激增(本季度达到120亿美 元，比市场预期高46%)影响，自由现金流降至-100亿美元，但这反映出OCI扩张的投入力度强劲，且并 未看到数据中心建设延误迹象。 Slowinski给予甲骨文"买入"评级，并维持290美元的目标价。 智通财经APP获悉，周四，尽管甲骨文(ORCL.US)公布的季度业绩喜忧参半并导致股价大跌逾14%，多 家华尔街机构为这家IT巨头站台，强调公司在人工智能业务上的增长潜力将远超市场预期。受甲骨文股 价大幅下挫影响，微软(MSFT.US)、英伟达( ...

Matt, what stood out for you. Why the disappointment from Oracle. Yeah, I think there's a couple of things going on here.One is that they massively ramped their capital expenditure, its outlook for the year. So now looking for $50 billion to spend, that's 5 billion higher than the earlier estimate. So, you know, 5 billion higher than the earlier.So like kind of a more than 40% increase. And I think, you know, in a market where everybody was already kind of getting a bit concerned about how much some of thes ...

Core Insights - Oracle has significantly increased its capital expenditure outlook for the year to $50 billion, which is $5 billion higher than previous estimates, representing a more than 40% increase [1][2] - There is a growing concern in the market regarding the high spending on infrastructure by major tech companies, especially as revenue growth is strong but not accelerating, leading to a mismatch between investment timing and expected returns [2] - Oracle's revenue pipeline is heavily reliant on open AI and other technologies, creating a concentration of risk during this transition period [3] Financial Performance - Oracle is facing a substantial debt load exceeding $100 billion, with cash flow negative for the quarter amounting to $10 billion, indicating short-term financial challenges [3] - The company is expected to see a turnaround in revenue and capital expenditure alignment potentially in the second half of next year or into 2025, as enterprises begin to invest in AI at scale [4][5] Investor Sentiment - Oracle is under pressure to address investor concerns regarding its leverage and commitments, including property leases and capital investments, while maintaining an investment-grade rating [6] - The company needs to effectively communicate its strategy and manage competing demands on cash flow to prevent any negative spirals in financial performance [7]

甲骨文（ORCL）周四早盘暴跌超过14%。尽管云业务强劲增长，甲骨文营收仍低于预期，股价下跌约 11%；其剩余履约义务增至5230亿美元，受益于Meta（META）和英伟达（NVDA）的承诺订单。 责任编辑：张俊 SF065 甲骨文（ORCL）周四早盘暴跌超过14%。尽管云业务强劲增长，甲骨文营收仍低于预期，股价下跌约 11%；其剩余履约义务增至5230亿美元，受益于Meta（META）和英伟达（NVDA）的承诺订单。 责任编辑：张俊 SF065 ...

Core Insights - Oracle's credit risk indicators have reached a 16-year high, raising concerns about its ability to profit from significant AI investments due to increased spending on data centers and other equipment [2][3] - The cost of Oracle's five-year credit default swaps rose by 0.17 percentage points to approximately 1.41%, the highest level since April 2009, indicating declining investor confidence in the company's credit quality [2] - Oracle's bond spreads have widened, with the yield spread on its 6% bonds maturing in 2055 increasing by 20 basis points to 196 basis points, reflecting market concerns about rising risks in the AI sector [2][3] Financial Metrics - Oracle's debt has surpassed $100 billion, contributing to cash consumption in the recent quarter due to high capital expenditures [4] - The trading volume of Oracle's credit default swaps surged to approximately $9.2 billion over a 10-week period, significantly higher than the $410 million recorded in the same period last year [3] Management Commentary - Oracle's co-CEO expressed commitment to maintaining an investment-grade debt rating, despite rising leverage levels that could potentially lead to a downgrade to junk status [3][5] - Concerns have been raised by analysts regarding Oracle's funding needs for its expanding data center operations, with warnings that credit default swap prices could exceed 1.5% in the short term if financing strategy disclosures remain limited [5]

甲骨文（ORCL）周四早盘下跌14%，此前该公司宣布营收不及预期，并预测支出增加。甲骨文的股票 表现不佳，对英伟达（NVDA）等人工智能概念股及整个科技板块构成压力，英伟达早盘下跌2.8%。 来源：环球市场播报 ...

Core Viewpoint - Oracle's disappointing earnings report has raised concerns among investors about the sustainability of tech companies' aggressive capital expenditure (capex) strategies, particularly in the AI sector [1][5][9]. Financial Performance - Oracle reported earnings that exceeded expectations but revenue of $16.06 billion fell short of the $16.21 billion forecast by analysts, leading to a 14% drop in its stock [1][2]. - Cloud sales increased by 34% from the previous quarter but also did not meet estimates, contributing to investor concerns [1][2]. Capital Expenditure Concerns - The company announced plans to increase its capex by approximately $15 billion next year, raising alarms about the aggressive spending habits of major tech firms [2][9]. - Analysts have speculated that Oracle's ambitious spending plans may take time to yield results, leading to skepticism about the AI trade [5][9]. Market Impact - Oracle's stock decline negatively affected other AI-related stocks, contributing to a 0.31% drop in the S&P 500 index during premarket hours [7][8]. - Major AI stocks such as Nvidia, Palantir, Advanced Micro Devices, and Broadcom each saw a 3% decline following Oracle's earnings report [8]. Investor Sentiment - The market reaction indicates a growing skepticism among investors regarding the viability of AI investments, particularly if major players like Oracle are unable to meet revenue expectations [5][10]. - Concerns about Oracle's debt-fueled data center expansion and the uncertainty surrounding AI spending are likely to exacerbate caution among investors [9].

Market Overview - U.S. stocks showed mixed performance, with the Dow Jones index increasing by 0.45% to 48,273.18, while the NASDAQ decreased by 0.70% to 23,488.33 and the S&P 500 fell by 0.35% to 6,862.54 [1] - Materials shares experienced a rise of 1.2% on Thursday [1] - Information technology stocks declined by 1.4% [2] Company Performance - Oracle Corp. reported second-quarter revenue of $16.06 billion, which was below analyst expectations of $16.21 billion. However, adjusted earnings grew by 54% year-over-year to $2.26 per share, surpassing analyst estimates of $1.64 per share. Following this mixed financial result, Oracle's shares fell approximately 15% [3] Commodity Market - In commodity trading, oil prices decreased by 2% to $57.28, while gold prices increased by 0.7% to $4,254.90. Silver rose by 3.3% to $63.010, and copper saw a rise of 1.9% to $5.4535 [6] Global Market Performance - European shares showed positive movement, with the eurozone's STOXX 600 rising by 0.4%, Spain's IBEX 35 Index increasing by 0.9%, London's FTSE 100 up by 0.1%, Germany's DAX 40 rising by 0.5%, and France's CAC 40 surging by 0.8% [7] - Asian markets mostly closed lower, with Japan's Nikkei down by 0.90%, Hong Kong's Hang Seng down by 0.04%, China's Shanghai Composite declining by 0.70%, while India's BSE Sensex gained 0.51% [8] Notable Stock Movements - Black Titan Corp's shares surged by 143% to $8.07 after launching its Digital Asset Treasury Plus framework. AXIL Brands Inc saw a 72% increase to $8.65 following a distribution agreement with Walmart. Agape ATP Corp's shares rose by 61% to $0.11 [10] - Conversely, Rezolute Inc's shares plummeted by 87% to $1.38 after failing to meet key study endpoints, while C3is Inc's shares dropped by 80% to $0.34 after announcing a $9 million offering [10]

格隆汇12月11日｜甲骨文(ORCL.US)跌幅扩大至16%，创2001年3月以来最大单日跌幅，市值蒸发1020 亿美元。消息上，公司第二财季云业务及基础设施业务收入不及预期，加大AI支出引发担忧。 ...

Core Insights - Oracle has launched Oracle Database@Google Cloud in Canada, enabling customers to utilize Oracle's AI Database services while ensuring data residency compliance [1][2] - The service allows integration with Google Cloud's analytics and AI tools, enhancing decision-making and business insights [2][3] - A new reseller program enables Google Cloud and Oracle partners to offer this service, simplifying procurement for customers [1][6] Group 1: Service Features - Oracle Database@Google Cloud provides access to Oracle Exadata Database Service, Oracle Autonomous AI Database, and Oracle Autonomous AI Lakehouse, all designed for high performance and scalability [4][5] - The Oracle Autonomous AI Database automates critical tasks using AI and ML, supporting over 48 billion queries per hour [4][9] - Oracle Autonomous AI Lakehouse integrates with various data platforms, including Google BigQuery, facilitating enterprise-wide AI and analytics [4][5] Group 2: Market Positioning - The launch addresses the growing demand for multicloud architectures in Canada, providing reliability and performance [3][8] - The service supports IT modernization initiatives, allowing organizations to leverage existing Google Cloud commitments [6][7] - New regional availability in Toronto complements existing Google Cloud regions, with plans for further expansion in the next 12 months [8]