Oracle Corp. shares fell the most in more than 24 years after the company reported a jump in spending on AI data centers and other equipment, rising outlays that are taking longer to translate

Oracle’s stock fell more than 12% on Thursday on growing fears about the software giant’s massive AI spending — shaving more than $30 billion off co-founder Larry Ellison’s fortune. The Texas-based tech company’s stock tumbled to $194 a share from around $223 a share at the start of trading — wiping out $90 billion in market capitalization.

Oracle has spent years piling up debt to fund share buybacks, which raises the risk level of adding even more debt to the balance sheet. Thanks to heavy spending on AI infrastructure, Oracle ended the second quarter with about $108 billion in debt. That's up from $92.6 billion in May. The company completed an $18 billion bond sale in September.

The net worth of Oracle founder Larry Ellison has taken a hit. A poor earnings report that pushed Oracle’s stock down sharply is to blame for that.

Oracle stock down double-digit percentage on Friday is sending the wealth of Larry Ellison down. The drop could put a spotlight on a media deal Ellison is backing.

Oracle Chairman Larry Ellison said Wednesday that the company sold its stake in chip designer Ampere Computing “because we no longer think it is strategic for us to continue design, manufacturing and using our own chips in our cloud data centers.

Oracle stock fell 11% today, as investors fret over how much the company is spending to build out AI data centers for OpenAI and others. Oracle Chairman Larry Ellison, whose roughly 40% stake has made

Oracle stock is falling after Q2 financial results. Analysts highlight the long-term AI opportunity, but see near-term risks.

Oracle's earnings also pulled down shares in other AI-related technology companies on Thursday. Nvidia's stock fell more than 3.5%, while shares of Advanced Micro Devices (AMD) were nearly 4% lower.

Yesterday we highlighted Oracle’s massive $455 billion cloud backlog and the question of whether infrastructure spending would finally convert to sustainable margin expansion. This morning, investors are answering decisively.

Oracle Corporation (NYSE: ORCL), the cloud computing giant co-founded by billionaire entrepreneur Larry Ellison, reported disappointing quarterly results despite massive spending on artificial intelligence (AI). As the tech company's shares tumbled on the charts, so did the cryptocurrencies linked to decentralized AI projects.