Oracle Earnings Revive Fears That Tech Giants Are Spending Too Much on AI

Oracle just raised a fresh red flag for investors worried that tech companies are getting ahead of themselves when it comes it their massive capex spending. Oracle stock plunged 14% on Thursday after the tech giant reported an earnings beat but delivered revenue that was below Wall Street estimates, posting $16.06 billion compared to $16.21 billion expected by analysts. Cloud sales rose 34% from the previous quarter but also fell short of estimates.Importantly, Oracle also pledged to spend about $15 billio ...