TechFlow, December 11 — Oracle (ORCL.N) shares fell nearly 12% in pre-market trading on Thursday after its earnings report showed revenue missed expectations and the company announced an additional $15 billion in data center spending to meet AI demand. Last quarter's revenue reached $16.1 billion, up 14% year-on-year but below analyst forecasts. The company has raised its capital expenditure forecast for the current fiscal year by 40% to $50 billion, while long-term debt climbed to $999 billion. Investors are concerned about Oracle's heavy borrowing and spending to meet demand from AI firms like OpenAI, questioning its short-term return prospects. Morgan Stanley projects Oracle's net debt could reach approximately $2.9 trillion by 2028.
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