Oracle's 11% stock plunge wipes out over 70B USD; Indian IT firms impacted.

• Oracle's shares dropped 11% overnight after disappointing quarterly results, leading to a market value loss of ₹5.9-6.7 lakh crore.
• Despite significant growth in future AI contracts, Oracle's revenue of $16.06 billion missed market expectations of $16.21 billion.
• Concerns arose over Oracle's core business earnings, as profit growth was largely attributed to a one-time asset sale rather than strong operational performance.
• Heavy AI investments are increasing Oracle's debt, raising investor fears about the company's financial leverage.
• Oracle's poor performance is expected to impact Indian IT companies like Infosys, TCS, Wipro, and HCL Tech, as global tech spending sentiment is affected.

Why It Matters: Oracle's poor results signal global tech instability, impacting Indian IT stocks.