Larry Ellison nixes plan to offload up to $7.5 billion worth of Oracle stock

Oracle Corporation (ORCL) stock rose 4.66% on October 13, 2026, driven by a $7B AI chip deal with Tencent and strong cloud demand. The company reported quarterly revenue of $14.93B, EBITDA of $6.12B, and is expanding AI infrastructure and software offerings. ORCL's stock closed at $143.82, with traders focusing on its AI ambitions and financial health.

Oracle (ORCL) shares rose 3% after outlining a $10M annual payment plan for Project Jupiter's electricity needs and proposing $55M in annual credits for New Mexico customers. The company also collaborated with Microsoft and Marvell on data center security standards.

Democrats probe a $17 billion increase in Oracle's VA contract, from $10 billion to $27 billion, seeking justification for the expansion. Lawmakers want details on approval and reasoning, according to a letter shared with Bloomberg.

Tencent reportedly leased 100,000 Nvidia AI chips from Oracle in Southeast Asia for $7B over 5 years, avoiding US export restrictions. Oracle shares rose 1.86% premarket. Tencent's Q2 capital expenditure surged 176% YoY to RMB 52.8B, with free cash flow turning negative by RMB 13.8B.

Nvidia and AMD shares fell on October 8, 2026, after a Financial Times report indicated OpenAI's annualized revenue run rate was $50 billion, below the expected $70 billion. Nvidia dropped 2.9% to $230.60, while AMD declined 4.55% to $616.48. Analysts attributed the market reaction to accounting differences, not a slowdown in AI demand, and noted OpenAI's enterprise segment grew 107%.

Oracle Corp. is using trucked natural gas to power data centers in Utah, Texas, and potentially New Mexico due to pipeline delays. The company cited force majeure for a New Mexico project, and its shares dropped 5.5% to $135.69. Oracle's strategy involves firms like Certarus and VoltaGrid, though it's costly. The approach is crucial for Oracle's AI data center plans, including those for OpenAI.