Oracle is slashing AI spending, wiping out more than $100 billion in market value

Oracle Corp. shares plunged after the company ramped up spending on AI data centers and other equipment, wiping out more than $100 billion in market value. The latest earnings report and stock drop mark a turnaround for a company that just months ago was on a rapid rally, closing multibillion-dollar data center deals. Bloomberg’s Robert Schiffman joined Carol Massar and Tim Stenovec in Bloomberg Businessweek Daily to break it down. (Source: Bloomberg)