Oracle drops 7% after-hours on $20B AI fundraising plan
Oracle shares fell 7% in extended trading after the company reported earnings and revenue above estimates but announced a $20 billion capital raise for AI expansion.
ORCL
Oracle (ORCL) shares declined 7% in after-hours trading despite reporting better-than-expected quarterly earnings and revenue. The drop came after the company disclosed plans to raise an additional $20 billion to fund its artificial intelligence expansion.
The capital raise announcement overshadowed the positive earnings beat, sending shares lower in extended trading.
Source: Cointelegraph