By Reuters Videos
Publication Date: 2026-06-11 03:22:00
STORY: Oracle shares plunged in after-hours trading on Wednesday, falling nearly 9%.: Oracle’s crash came after the technology company said its AI spending would exceed estimates. It also said it would need to take on more debt next year, reflecting the staggering sums being poured into AI infrastructure. Oracle has big deals to build data centers for customers like Meta and OpenAI.:: Oracle said Wednesday that its massive “Stargate” facility in Texas would be more than three-quarters complete within 90 days. OpenAI said customers can now access its cutting-edge coding models in Oracle’s cloud By 2027, that figure is expected to rise to as much as $95 billion, although some of that will be repaid by customers. The company also said its profit margins would “decrease” in the coming year as it ramps up data center projects. A…
