Key facts: Oracle's earnings miss forecasts; stock drops 11% impacting AI firms
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Oracle's earnings fell short of revenue forecasts, with a $15 billion rise in capital spending, raising concerns about the viability of its AI infrastructure investments.1GMO fund manager Tom Hancock sold Oracle shares after over ten years, citing worries about the company's debt, especially after its $18 billion loan for AI infrastructure with OpenAI.2Oracle's stock dropped 11% after its earnings report, affecting other AI hardware firms like Nvidia, Marvell, Broadcom, Micron, Dell, and HP, which all fell by at least 1%.3
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