Oracle (NYSE:ORCL), an enterprise cloud software and AI infrastructure provider, closed at $123.77, down 1.92%. In premarket trading, reports that it canceled a $7 billion Tencent chip-leasing deal and renewed attention on AI funding plans weighed on the shares. Trading volume reached 111.4M shares, coming in about 241% above its three-month average of 32.7M shares. The S&P 500 (SNPINDEX:^GSPC) closed at 7,689, up 1.59%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) ended at 25,737, up 1.44%. Among enterprise software and cloud infrastructure peers, Microsoft closed at $555.80, up 6.68%, and SAP closed at $240.05, up 4.23%, keeping Oracle's relative weakness in focus. Although Oracle stock is down today, it seems to have fared well in its Wednesday performance, given the circumstances it faced. Aside from the cancellation of the Tencent deal, many data center stocks plunged as several politicians opposed to data center development won in the 2026 Midterm elections.
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