Oracle Shares Surge as Big Tech Spending Eases Software Worries

Oracle Corp. shares extended their rebound on Monday, as ramped up capex spending by US technology giants helped soothe nerves over the threat posed to the company by developments in artificial intelligence. Shares in the software bellwether rallied as much as 12%, their biggest intraday rise since Sept. 10. Even with that move — which came on the heels of Amazon.com Inc.’s pledge to spend $200 billion this year on data centers, chips and other equipment — the stock is down around 50% from its September h ...