Oracle's big AI dreams are freaking out Wall Street

Oracle’s AI “power” play depends on everyone believing that the lights will stay on long enough for the money to show up. The company wants to be the one keeping the world’s biggest AI models plugged in — racing to build out infrastructure that OpenAI, Meta, and others say they need — and Oracle has the contracts, the backlog, and the talking points to prove it. But this quarter’s earnings, for the second quarter of the 2026 fiscal year, just made it painfully clear that the grid is wired to a very nervou ...