Oracle drops on disappointing cloud sales, more AI spending

Oracle Corp. shares fell 11% in early trading after the company reported a jump in spending on AI data centers and other equipment, rising outlays that are taking longer to translate into cloud revenue than investors want.Fiscal second-quarter cloud sales increased 34% to $7.98 billion, while revenue in the company’s closely watched infrastructure business gained 68% to $4.08 billion. Both numbers fell just short of analysts’ estimates. Known for its database software, Oracle has recently found success in t ...