AI Bubble Concerns Reignite, Oracle Plunges 16%, US Stocks Mixed, Gold and Oil Under Pressure, Bitcoin Drops Over 2%
Concerns about an AI investment bubble resurfaced, triggering a broad sell-off in risk assets. Oracle's stock plummeted 16% after reporting disappointing quarterly results, with both revenue and cloud business income missing analyst expectations. The company also reported negative free cash flow and announced significantly higher-than-expected capital expenditures, largely debt-funded, for AI infrastructure.
This development dampened market sentiment, particularly towards tech and AI-related stocks. Major U.S. indices were mixed, with the Nasdaq falling 0.6%. Global markets reacted similarly, with Asian and European shares mostly lower.
The negative risk sentiment flowed into other asset classes. Bitcoin fell over 2%, briefly dropping below $90,000, while gold and crude oil prices also declined. In contrast, silver and copper posted gains.
Analysts noted that Oracle's performance has intensified scrutiny on AI-driven spending strategies, especially those financed through debt. The market's reaction highlights growing investor caution regarding the sustainability of AI investments, marking a shift from previous excitement around capital expenditure increases in the sector.
华尔街日报12/11 16:04