Larry Ellison cancels planned $7.5B
Oracle share sale
$ORCL co-founder Larry Ellison cancelled plans to sell up to 50 million Oracle shares worth about $7.5B, just one day after the sale was disclosed. The company gave no reason, but a person close to Ellison said he believes Oracle shares are undervalued. The reversal comes as investors question Oracle's costly Al expansion, including its $300bn OpenAl deal, which has pressured margins and sent shares sharply lower.
Oracle share sale
$ORCL co-founder Larry Ellison cancelled plans to sell up to 50 million Oracle shares worth about $7.5B, just one day after the sale was disclosed. The company gave no reason, but a person close to Ellison said he believes Oracle shares are undervalued. The reversal comes as investors question Oracle's costly Al expansion, including its $300bn OpenAl deal, which has pressured margins and sent shares sharply lower.