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Oracle drops on disappointing cloud sales, more AI spending

Investors want to see Oracle turn its higher spending on infrastructure into revenue as quickly as it has promised.

Brody Ford

Oracle fell the most in almost nine months after giving its long-range financial outlook, down as much as 8.2% Friday in New York.

Still, investors are waiting to see a more significant revenue contribution from Agentforce.

Microsoft on Tuesday said it would cut about 6,000 workers across the company.

Technology companies have grown more accustomed to regular job reductions after a massive wave of layoffs at the start of 2023.

“We want to get a billion agents with our customers in the next 12 months,” Benioff said.