Here's Why Oracle Stock Slumped in the First Half of 2026 (Hint: Microsoft Was Also Impacted)

Oracle and Microsoft stocks declined 24.8% and similarly in the first half of 2026 due to increased AI infrastructure capital spending requirements and significant exposure to OpenAI. Bond markets priced in increased default risk for Oracle following its $300 billion OpenAI deal, as investors question OpenAI's ambitious financial projections of $650 billion cash burn through 2030 against $280 billion expected revenue by 2030.