finance
Oracle plans $70 billion data centre investment over next year
The company announced a large increase in capital spending for data centres. Shares fell as much as 8 percent in after-hours trading after the firm gave flat revenue guidance.
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Oracle said it will spend $70 billion on data centre construction in the coming year. The announcement came alongside quarterly results that included unchanged revenue guidance for the current period.
Shares in the company fell as much as 8 percent in after-hours trading. The decline followed investor focus on the flat revenue outlook despite the higher spending plan. The company did not name specific locations or timelines for the new facilities.
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