Oracle's announcement of the massive increase in AI-related contracts last week holds important implications for artificial intelligence spending and the tech sector.gettyThe S&P 500 reached an all-time high last Thursday but declined fractionally on Friday. The Magnificent 7, comprising Microsoft (MSFT), Meta Platforms (META), Amazon.com (AMZN), Apple (AAPL), NVIDIA (NVDA), Alphabet (GOOGL), and Tesla (TSLA), outperformed with Oracle’s (ORCL) earnings further reinforcing the artificial intelligence (AI) gr ...