Oracle is trading 7.6% down at $114.30 amid a sharp technology selloff as investors reassess AI infrastructure spending and regulatory risks after the U.S. midterm elections.
- Reuters reported steep losses in chip and data-center-related stocks, citing concerns about scrutiny of AI expansion.
- A reported cancellation of Oracle’s planned Tencent chip-leasing deal adds company-specific background, but broader sector pressure is the clearest explanation for the decline.