Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff

Disappointing Oracle results knock $80bn off value amid AI bubble fears

the glass and steel rotunda towers of Oracle's HQ reflected in the lake
Oracle’s corporate headquarters in Silicon Valley, California. Photograph: Sundry Photography/Alamy

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.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.