Shares of cloud computing giant Oracle plunged on Thursday, after weaker-than-expected revenues stoked concerns about returns from massive spending on artificial intelligence. The company’s shares sank 14% after it had reported revenue of $16.1bn (£12bn) for the three months to November on Wednesday, compared with the $16.2bn projected by analysts. Revenue growth was still up 14%, with a 68% surge in sales at its AI business, Oracle Cloud Infrastructure (OCI), the company said. OCI services AI developers whose demand for…
Read more: Oracle shares slide as earnings fail to ease AI bubble fears
