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Oracle (ORCL) Stock Plummets 14% Amid AI Spending and Earnings Concerns

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Oracle (ORCL) stock dropped 14% on Thursday amid worries over AI spending and weak Q3 results. Q2 revenue came in at $16.06 billion, up 14% year-on-year but below the $16.21 billion forecast. Capital spending hit $12 billion, well above the $8 billion estimate. The firm now expects $500 billion in full-year capex. The sell-off rippled into AI + crypto news, with NVIDIA, AMD, and some on-chain news-linked cryptocurrencies also falling.
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