By FinancialTimes
Publication Date: 2025-12-11 18:34:00
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It’s funny how perception changes. In September, Oracle raised its estimate of capital spending next year – mostly for building artificial intelligence data centers – by $10 billion and boosted its shares increased by more than a third in one day. On Wednesday, Larry Ellison’s company raised that forecast again by $15 billion, and the next morning The shares fell by 13 percent.
It’s a bit like a sundial: the gnomon stays still, but the sun moves around it. In this case, Ellison’s strategy remains essentially the same. oracle The company was on track to make about $280 billion in investments over the next five years, according to BNP Paribas. Customers including OpenAI, Nvidia and Facebook owner Meta Platforms have collectively committed to $523 billion in revenue.
But there is a growing lag between payout and payout. Wednesday’s increase in planned spending for 2026 was not accompanied…
