Meta Shares Slip as Oracle Unveils $70B AI Data-Center Deals
META•Meta shares were dragged down by a broad sell-off in Big Tech stocks, which saw Alphabet and Microsoft post sharp losses on June 11. Oracle’s announcement of a $70 billion fiscal-year capital expenditure plan, including AI data-center deals with Meta, underscored growing infrastructure competition.
1. Big Tech Sell-Off Pressures Meta
On June 11, major technology stocks fell sharply, with Alphabet and Microsoft posting significant losses. Meta shares moved in tandem with this sector-wide slump, reflecting investor concerns over growth prospects and broader market volatility.
2. Oracle Expands AI Infrastructure with Meta Deals
Oracle revealed plans for $70 billion in fiscal-year capital expenditure, driven by accelerated AI data-center buildouts. Among its marquee contracts are new infrastructure deals with Meta, positioning Oracle as a key cloud provider for Meta’s AI initiatives.
