Oracle's AI spending plan lifts ASML shares and rattles investors

Oracle reported fourth‑quarter earnings that beat Wall Street expectations, with revenue up 21% to $19.18 billion and earnings per share of $2.03. The company also raised its profit outlook for fiscal 2027. At the same time, Oracle announced plans to raise an additional $40 billion—through debt and equity—to fund a large‑scale artificial‑intelligence data‑center build‑out. The announcement triggered a 9% drop in Oracle's stock in after‑hours trading, sparking investor concern over the scale of the financing and the company’s $23.7 billion negative free‑cash flow.

Analysts see the massive AI spend as likely to drive demand for AI‑chip equipment, benefitting ASML Holding. Following Oracle’s disclosure, ASML shares rose about 5% on the expectation that the new AI spending will translate into higher orders for the Dutch lithography‑equipment maker. The news also highlighted a surge in Oracle’s capital expenditures (up 162% year‑on‑year) and a 363% rise in remaining performance obligations, largely tied to pre‑paid AI contracts with firms such as OpenAI.