Chairman of the Board and Chief Technology Officer at Oracle
Stated that Oracle Cloud Infrastructure is playing a major part in humanity's race to advance Artificial Intelligence.
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Oracle's stock plummeted 15% ($70 billion market value loss) after reporting weaker-than-expected quarterly growth and announcing a 40% increase in AI capital expenditure to $50 billion, raising concerns about unsustainable AI spending financed by mounting debt.
“Co-founded Oracle, which saw $80 billion in market value drop after disappointing quarterly results and increased AI infrastructure spending.”
Oracle promotes Clay Magouyrk and Mike Sicilia to Co-CEOs to lead the company's AI-focused strategy across cloud infrastructure and industry applications.
“Stated that Oracle Cloud Infrastructure is playing a major part in humanity's race to advance Artificial Intelligence.”