Oracle shares slide on $15B increase in data center spending

Oracle’s Big Tech rivals such as Amazon, Microsoft, and Google have helped reassure investors about their large capital investments by posting strong earnings from their vast cloud units.

But in the last quarter, Oracle’s cloud infrastructure business, which includes its data centers, posted worse than expected revenues of $4.1 billion. Ellison’s company is also relying more heavily on debt to fuel its expansion.

Net income rose to $6.1 billion in the quarter, boosted by a…