Oracle stock sinks, on track for worst loss since early 2000s as AI costs jump past Wall Street estimates

Oracle (ORCL) stock fell as much as 15% Thursday after the tech firm's quarterly AI costs rose ahead of Wall Street's expectations and its revenue fell short. Oracle reported capital expenditures of $12 billion for its fiscal second quarter after the bell Wednesday, up from about $4 billion the previous year and the roughly $8 billion projected by analysts tracked by Bloomberg. The AI cloud player also hiked its guidance for full year capital expenditures to $50 billion from its prior $35 billion estimate ...