Oracle Stock Slides as AI Trade Swoons -- WSJ

By Anissa Gardizy

Oracle stock fell 7% Thursday, pulled down by broader fears around the AI trade post-election and continuing a slide that has seen them lose nearly 20% over the past month.

Oracle is deeply exposed to the rising risks around the U.S. data- center build-out. Investors are concerned that the election results could slow down companies' expansions and make projects more expensive.

The Journal reported on Wednesday that senior leaders at OpenAI were discussing whether the election results meant the company would have to reset expectations regarding its data-center capacity next year. Oracle is a big beneficiary of OpenAI's planned data center spending, with projects under construction in Texas, New Mexico, and Wisconsin.

Oracle is smaller than the so-called hyperscalers-Amazon, Google, and Microsoft-who have deeper pockets and far more customers, meaning it could be especially impacted by a slowdown.

Oracle also needs more money to fund its buildout. Earlier this week Oracle said it planned to raise $20 billion in debt and equity, and the firm is separately in talks to raise money to buy AI chips for its data centers.

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November 05, 2026 13:19 ET (18:19 GMT)