Oracle forecasts miss Wall Street targets while spending rises, shares slide 10%

By Juby Babu and Stephen Nellis Dec 10 (Reuters) - Oracle forecast sales and profit that missed analyst estimates on Wednesday, while saying that spending would rise by $15 billion compared with earlier estimates - a sign that big capital outlays to chase AI cloud-computing customers is not turning ​into profit as fast as Wall Street had expected. Shares of the Austin, Texas-based company slumped 10% in extended trading. Oracle has leapt to renewed prominence ‌with grand plans to build AI cloud data ce ...