Oracle Slides by Most Since January on Mounting AI Spending

Oracle Corp. shares plunged by the most since January, erasing more than $100 billion in market value, after the company escalated its spending on AI data centers and other equipment, rising outlays that are taking longer to translate into cloud revenue than investors want. Capital expenditures, a metric of data center spending, were about $12 billion in the quarter, an increase from $8.5 billion in the preceding period, the company said Wednesday in a statement. Analysts anticipated $8.25 billion in capi ...