Oracle Shares Plunge Nearly 9% as Microsoft Winds Down AI Cloud Deal

BREAKING: $ORCL shares fell more than 6% to a two-year low after reports that Microsoft is winding down its agreement to rent AI computing capacity from Oracle.
The stock dropped from nearly $120 to $109 in just four hours, marking an almost 9% decline from Friday's intraday high.
According to Bloomberg, Microsoft chose not to renew the deal because the older-generation Nvidia GPUs used by Oracle no longer met its evolving computing requirements.