Oracle ’s shares tumbled 15% on Thursday in response to the company’s quarterly financial results, disclosed the day before.

Roughly $80bn vanish from the value of the business software company co-founded by Donald Trump ally Larry Ellison, falling from $630bn (£470bn) to $550bn and fuelling fears of a bubble in artificial intelligence-related stocks. Shares in the chipmaker Nvidia, seen as a bellwether for the AI boom, fell after Oracle’s.

The drop extended a 11.5% fall during after-hours trading that followed results shwoing a lower-than-expected 14% rise in revenues to $16bn in the latest quarter. Larry Ellison: Oracle co-founder who overtook Musk as world’s richest person Read more

Investors were also spooked by Oracle raising forecasts for its already-enormous investment

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