Oracle shares have plunged 22% over eight trading sessions, the worst stretch since early 2003, reflecting broad software-sector weakness and investor unease over the company’s exposure to large AI compute commitments. During this period, the stock fell from near its 50-day moving average down toward its 52-week low. That drop erased roughly $95 billion in market capitalization, underscoring the magnitude of the selloff and its impact on Oracle’s standing among enterprise software peers.

This week Oracle announced plans to raise between $45 billion and $50 billion in gross proceeds via a mix of debt and equity, intended in part to support its compute infrastructure partnerships. However, investors reacted tepidly, citing lingering questions about how $300 billion in reported AI compute commitments will be financed. Despite securing strong underwriting commitments and detailing interest rates and amortization schedules for the debt portion, the equity component remains a point of uncertainty until final pricing is set.

Despite the near-term volatility, Oracle reported a backlog of $523 billion at the end of its latest quarter—up 14% year-over-year—and delivered 66% year-over-year growth in Cloud Infrastructure revenue to $4.1 billion. Its deferred revenue balance grew 15% to $41 billion, providing robust visibility for the next four quarters. Analysts highlight multi-cloud deployments and a 139% net revenue retention rate as key drivers that could support a recovery once execution questions are addressed.

Institutional ownership in Oracle stands at approximately 42.4% of shares outstanding. In the latest 13F filings, Border to Coast Pensions Partnership reduced its stake by 72.1%, selling 354 132 shares and now holds 137 209 shares valued at $38.6 million. Meanwhile, several hedge funds including Kampmann Melissa S. and Voisard Asset Management slightly increased positions by under 4%. On the insider front, executives sold a combined 62 223 shares over the past quarter—marking over $12 million in disposals—with the CEO and other officers trimming holdings by more than 6% each.