The world of bits moves fast. The world of atoms doesn’t. And data centers are where those two worlds collide.”

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.

Oracle exited the recent quarter with non-current notes payable and other borrowings (which are basically long-term debt) of $100 billion, compared to cash and cash equivalents of $19.2 billion.

Trading in Oracle credit default swaps (CDS), which has exploded in the last year and are near their most expensive on record, tell a less upbeat story than its shares. Essentially derivatives that offer insurance against the risk of a bond issuer - such as a company or a government - not paying creditors.

Goldman Sachs analyst Kash Rangan lowered its price target to $220 from $320, while maintaining a neutral rating. Rangan cited modest reported revenue growth and noted that higher capital expenditures and free cash flow burn increased concerns over Oracle’s growing financial needs.

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.

Three months after Larry Ellison briefly became the world’s richest person, a historic slide in Oracle Corp. shares sent his net worth plunging by $24.9 billion.

Bloomberg reported Oracle had delayed by a year the delivery of some data centers it's developing for ChatGPT maker OpenAI. Oracle shares fell Friday, extending recent losses.

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

Shares in Larry Ellison’s database company fell as much as 16 per cent on Thursday, before trimming its losses to close down 10.8 per cent. The cost to protect against falls in its debt also jumped. The move came as Oracle reported revenues of $16.1bn in the last quarter, up 14 per cent from the previous year but below analysts’ estimates.

Oracle shares sank 13%, sparking a tech selloff as the company's massive spending and weak forecasts fanned doubts over how quickly the big bets on AI will pay off.