Oracle reports 93% cloud infrastructure growth and $638B backlog amid heavy AI data center capex

According to a post on X, Oracle beat its fourth quarter estimates. The company achieved record revenue. Cloud infrastructure saw 93 percent growth. The backlog stood at $638 billion. The post described heavy AI data center spending The stock price plunged on the news of the spending. It marked the worst week since 2001 with a 19.4 percent decline. Investors are concerned about near term dilution and cash burn. The post noted that this concern persists even with long term AI demand in view. The post on X contained all of the specific figures and details regarding the Oracle results and the market reaction to them. The information was presented as the explanation for the stock's performance.