Oracle shares plummeted 15% Thursday, after the firm reported disappointing results.
The cloud computing and database software maker reported lower-than-expected quarterly revenue on Wednesday, despite booming demand for its artificial intelligence infrastructure. Its revenue came in at $16.06 billion, compared with $16.21 billion expected by analysts, according to data compiled by LSEG.
It dragged other AI-related names down with it.
Chip darling Nvidia fell more than 2%, memory and storage firm Micron was 1% lower, cloud company Coreweave slid 5% and AMD was 3% lower.
Oracle has been the subject of much market chatter since raising $18 billion in a jumbo bond sale in September, marking one of the largest debt issuances for the tech industry on record. The name shot onto investor agendas when it inked a $300 billion deal with OpenAI in the same month. Oracle made further moves into cloud infrastructure, where it battles Big Tech names such as Amazon, Microsoft and Google for AI contracts.
However, investors have questioned Oracle's aggressive AI infrastructure build-out plans and whether it needs such a colossal amount of debt to execute, though other tech firms have also recently issued corporate bonds.