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Oracle Shares Sink Despite New AI Commitments From Nvidia and Meta
Oracle stock fell 11% after revenue missed estimates despite major AI deals with Nvidia and Meta, renewing investor concerns about concentration risks and AI-market volatility.
Investors reacted sharply after Oracle reported fiscal Q2 revenue of $16.06 billion, rising 14% year over year but missing Wall Street expectations. The company highlighted new multi year AI infrastructure commitments from Nvidia and Meta, which helped push its backlog to a record $523 billion. However, concerns about concentrated AI customer exposure and fears of an overheating AI market drove shares down 11% in after-hours trading.