The Nasdaq topped 23,000 for the first time ever Tuesday, and the S&P 500 also reached a new intraday peak shortly after the opening bell. But stocks gave back early gains on a report from inside Oracle that seems to show the AI revolution could prove to be a long and difficult process in terms of profits.
According to The Information (in a paywall-protected article), internal documents show Oracle (ORCL, -2.4%) lost $100 million during its fiscal 2026 first quarter on rentals of Nvidia (NVDA, -0.3%) Blackwell chips. Oracle stock had its best day in 32 years when it reported first-quarter earnings last month.
