Oracle’s stock fell sharply on Wednesday, dropping more than 10% in after-hours trading after the tech giant reported quarterly revenue that came in below Wall Street forecasts, adding fresh fuel to investor worries about an overheated AI market. The company posted revenue of $16.06bn for the quarter ending in November, narrowly missing analysts’ expectations of…
Oracle has pledged a staggering $40 billion to purchase Nvidia’s cutting-edge chips as part of a landmark effort to build one of the world’s largest data centers in Abilene, Texas. The facility, which will eventually require up to 1.2 gigawatts of power, is the cornerstone of the ambitious Stargate project – a $500 billion global…
Oracle is under fire after a hacker claimed to have breached the company’s cloud systems, exfiltrating sensitive data from over 144,000 clients. The breach, which allegedly compromised around 6 million records, was initially denied by Oracle, but subsequent investigations and evidence from cybersecurity experts have raised serious concerns about the company’s handling of the situation….
Negotiations are underway involving Oracle, Microsoft, and TikTok’s parent company, ByteDance, as efforts continue to address national security concerns while preserving TikTok’s U.S. operations. Sources close to the discussions revealed that the proposed deal could see ByteDance retain a minority stake in the company, with Oracle playing a key oversight role. Under the proposed arrangement,…
