Oracle (ORCL) is now offering Oracle Database@Google Cloud to customers in Canada. With the debut of the powerful multicloud service in Canada,

It is a far cry from the company’s last quarterly results, released in September, when news of a series of AI deals boosted its bottom line and saw its share price soar 40 percent, briefly making founder and CTO Ellison the world’s richest man.

Oracle Corp. shares fell more than 10% in extended 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.

Did people complain – and by people, we mean Wall Street – as the world’s largest bookseller invested huge amounts of money to transform itself into an

Oracle said 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.

A lacklustre trading update reignited fears of a bubble in richly-valued artificial intelligence stocks, that analysts warn risks plunging the global economy into recession.

Oracle Corporation (NYSE: ORCL) spent two decades as a database giant before pivoting hard into cloud infrastructure. That shift accelerated dramatically after 2020, when hyperscale AI workloads became the company’s defining growth engine.

Oracle Chairman Larry Ellison said Wednesday that the company sold its stake in chip designer Ampere Computing “because we no longer think it is strategic for us to continue design, manufacturing and using our own chips in our cloud data centers.

Oracle shares plummeted 13% in premarket trading on Thursday, extending yesterday's losses after the firm reported disappointing results. The cloud computing and database software maker reported lower-than-expected quarterly revenue on Wednesday,