By Matt Phillips
Publication Date: 2025-12-10 13:18:00
It probably won’t be like last time.
Back in September, when oracle reported that its AI revenue backlog had more than quadrupled to $455 billion – largely due to deals with OpenAI – the stock exploded, rising more than 20% and creating billions of dollars in wealth in minutes.
The celebration lasted until the next day when Oracle had its best session since 1992.
At some point in this crowded hour, Oracle briefly became co-founder and chairman the richest person in the worldtemporary overtaking Tesla CEO Elon Musk.
But that was back then.
Over the past three months, Oracle shares have lost all of their OpenAI-related value – and then some – by burning through about $300 billion in shareholder wealth.
In fact, the market is now viewing the same huge backlog of AI-related deals that it loudly cheered in September as slightly negative for the company today.
Of course, other large technology companies – for example Microsoft – closely connected to AI, have experienced ups and downs…
