Oracle (NYSE:ORCL) is taking a hard hit, shedding more than 11% after laying out plans to raise approximately $40 billion through a combination of debt and equity financing in fiscal year 2027, with no additional debt expected for the remainder of calendar year 2026. The market’s reaction reflects concern that the capital raise signals a level of spending ambition that could weigh on near-term returns even as Oracle’s long-term AI infrastructure thesis remains intact.
SpaceX (NASDAQ:SPCX) is set to begin trading on the Nasdaq Friday at 9:30 AM ET, with Oppenheimer wasting no time, initiating coverage at Outperform with a $190 price target ahead of the opening bell. For those looking to play the other side of the trade, Leverage Shares confirmed that a 2x Short SpaceX ETF will hit the market under the ticker SSPC, giving bearish investors a tool to express their view on what is shaping up to be the most anticipated public debut in market history.
Wholesale prices came in hotter than expected in May, with the producer price index (PPI) climbing 1.1% on the month against a 0.7% estimate, lifting the 12-month rate to 6.5%, the highest since November 2022 and up from April’s 5.7% reading. Nearly 80% of the monthly move traced back to a surge in energy costs, with gasoline prices jumping 23.4% at the wholesale level. The data lands one day after Wednesday’s hot CPI print, keeping the Federal Reserve firmly on hold heading into next week’s rate decision.
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The markets are choosing optimism today, brushing aside a wave of uncertainty as investors focus on what’s working rather than what isn’t. Nasdaq 100 futures are pointing 0.6% higher in early trade, S&P 500 futures are up 0.3%, and Dow futures are adding 184 points. Chip stocks are doing the heavy lifting though rising oil prices and an escalating U.S.-Iran confrontation are keeping a lid on how far the optimism can run.
President Trump raised the geopolitical stakes overnight, posting on Truth Social that the U.S. will be striking Iran “VERY HARD TONIGHT” and signaling intentions to seize control of Kharg Island and other Iranian oil infrastructure. WTI crude futures were up nearly 1% to around $90 a barrel, putting energy markets back on high alert.
The chip sector is attempting to find its footing after a brutal stretch that included last Friday’s 10% collapse in the iShares Semiconductor ETF. Micron Technology (NASDAQ:MU | MU Price Prediction), Advanced Micro Devices (NASDAQ:AMD), and Intel (NASDAQ:INTC) are all rebounding in premarket trade, with the semiconductor ETF gaining 3%. Intel is getting an added boost from a Bank of America upgrade to Buy from Underperform, sending shares up 5% before the open and injecting a fresh dose of conviction into a sector that badly needed it.
Google (NASDAQ:GOOGL) is considering tapping Samsung to manufacture a key component of one of its most advanced future AI chips, according to The Information, a move that would hand the South Korean chipmaker a meaningful role in Google’s next-generation hardware ambitions.
Oracle (NYSE:ORCL) is planning to raise approximately $40 billion through a mix of debt and equity financing in fiscal year 2027, a capital raise that signals the enterprise software giant is gearing up for a significant acceleration in its AI infrastructure buildout as demand from hyperscale customers continues to outpace its current capacity.
ServiceNow (NYSE:NOW) and IBM (NYSE:IBM) announced an expanded multi-year collaboration aimed at tackling what the companies describe as the two biggest obstacles standing between enterprises and AI at scale: the AI-ready data problem and the legacy application layer. Joint solutions are expected to be available in H2 2026.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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