Oracle share price drops on cloud sales. (Photo: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Oracle Corp. shares fell more than 10% in extended trading after the company reported a jump in spending on AI data centers and other equipment, rising outlays that are taking longer to translate into cloud revenue than investors want.

Fiscal second-quarter cloud sales increased 34% to $7.98 billion, while revenue in the company’s closely watched infrastructure business gained 68% to $4.08 billion. Both numbers fell just short of analysts’ estimates.

Known for its database software, Oracle has recently found success in the competitive cloud computing market. It’s engaging in a massive data centre build-out to power AI work for OpenAI and also counts companies such

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