By Jordan Novet
Publication Date: 2025-12-26 12:00:00
Oracle CEO Clay Magouyrk speaks during a question and answer session following a tour of the OpenAI data center in Abilene, Texas, September 23, 2025.
Shelby Tauber | Pool | Reuters
Three months ago oracle named Clay Magouyrk and Mike Sicilia as his new CEOs. They got off to a difficult start.
Oracle shares are down 30% so far this quarter. With four trading days remaining in the period, the stock is on track for its biggest decline since 2001 and the dot-com bust.
Investors are increasingly skeptical about the database software provider’s ability to open more server farms for the ChatGPT operator OpenAIwhich agreed in September to spend over $300 billion with Oracle.
Earlier this month, Oracle reported that the numbers were weaker than expected quarterly sales and free cash flow. On the earnings call, newly appointed finance chief Doug Kehring called for $50 billion in capital spending for fiscal 2026, 43% more than planned in September and twice as much as last year. In addition, Oracle plans to raise $248 billion
