Photo: Dado Ruvic
Oracle stock plummets 14%, wiping off $105 billion in market value
Oracle stock fell 14% after announcing a $15B increase in 2026 capex, much of it tied to OpenAI, erasing $105B in value.
Powered by Gloria
Updated 1:24 p.m. ET
Oracle shares fell 14% on Thursday, dropping from $225 to $194 and wiping out $105 billion in market value after the company sharply raised its capital expenditure outlook.
The company now expects fiscal 2026 capex to be $15 billion higher than it projected in September, with much of the increase tied to infrastructure spending supporting OpenAI’s cloud-computing demands.
The update spooked investors, raising questions about the near-term payoff of large-scale AI investments.