Oracle's AI spending surpasses estimates, says it'll raise more debt in 2027

Oracle shares fell in extended trading after it reported quarterly capital expenditure that exceeded estimates, raising concerns about the profitability of its AI infrastructure business. Capital expenditure totalled about $16.5 billion in the period ended May 31, taking annual spending to $55.7 billion, above Oracle's projection of $50 billion. The company also said it'd raise more debt in 2027.