STORY: Oracle shares plunged in after-hours trade Wednesday, dropping close to 9%.:: OracleThe dive came after the tech firm said its spending on AI would blow past estimates.It also said it would have to raise more debt next year, reflecting the staggering sums of money being put into AI infrastructure.Oracle has big deals to build data centers for customers like Meta and OpenAI.:: OracleOn Wednesday it said its huge “Stargate” facility in Texas would be more than three-quarters complete within 90 days.OpenAI said customers can now access its cutting-edge coding models on Oracle’s cloud.But the rising costs are giving investors the jitters.This year, Oracle says capital expenditures hit close to $56 billion, well above its target.In fiscal 2027, it says that figure will balloon to as much as $95 billion, though some of that will be repaid by customers.The company also said its profit margins would “step down” over the coming year as it ramps up data-center projects.One analyst told Re...
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