Oracle falls -5% after Microsoft ends its deal to rent AI cloud capacity from the company. Oracle is now down -68% from its record high

Microsoft Is Winding Down Oracle Deal to Rent AI Cloud Capacity

Nov 6 (Reuters) – Microsoft (MSFT.O), opens new tab is winding down an arrangement to rent AI computing from Oracle (ORCL.N), opens new tab as part of a ​larger reassessment of billions of dollars in cloud partnerships, Bloomberg ‌News reported on Friday, citing people familiar with the matter.
Shares of Oracle and Microsoft were flat in afternoon trading. Both stocks had come under pressure this week after a ​Democratic midterm election sweep in the US raised worries about tighter ​scrutiny that could threaten the AI industry’s breakneck expansion.

h/t RobertBartus