Key Takeaways
Oracle lost $105B in market value after forecasting a $15B increase in 2026 capex.
Much of the spending is tied to supporting OpenAI’s cloud computing needs.
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Oracle shares fell 14% on Thursday, dropping from $225 to $194 and wiping out $105 billion in market value after the company sharply raised its capital expenditure outlook.
The company now expects fiscal 2026 capex to be $15 billion higher than it projected in September, with much of the increase tied to infrastructure spending supporting OpenAI’s cloud-computing demands.
The update spooked investors, raising questions about the near-term payoff of large-scale AI investments.
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