Updated 9 November 2026, 13:07 GMT, before the US market open. Oracle (ORCL) was indicated at $116.50 pre-market at 8:07 a.m. ET, up 40 cents or 0.34 percent from Friday’s $116.10 close (StockAnalysis). Bloomberg reported on Friday that Microsoft is winding down a 2023 deal to rent AI computing capacity from Oracle after declining to renew it. Verdict: the stock is barely moving while US futures rise, and it remains pinned to the $116 price of its new share sale, two sessions after a 52-week low. Reference levels: $106 below, $130 above.
Key facts
- Pre-market: $116.50 at 8:07 a.m. ET (StockAnalysis). This is a thin pre-market price; the regular session opens at 14:30 GMT.
- Friday close: $116.10, up 0.82 percent, after an intraday low of $109.21 and a high of $119.70 (StockAnalysis).
- 52-week range: $109.21 to $250.25 (StockAnalysis).
- Microsoft: Bloomberg said the 2023 agreement is being wound down and that capacity has been switched off in recent months (via 24/7 Wall St.). The full size of the deal was never disclosed.
- The raise: Oracle sold 86.2 million shares at $116 on 2 November and $10 billion of notes (Oracle filings, via our earlier coverage).
- Next results: StockAnalysis estimates 9 December. That is an estimate, not a confirmed date.
- CPI: the US October report is due Tuesday 10 November at 8:30 a.m. ET (Bureau of Labor Statistics).
What Bloomberg reported
According to 24/7 Wall St.’s summary of the Bloomberg report, Microsoft is winding down a deal to rent AI computing capacity from Oracle after declining to renew the contract. The agreement dates to 2023, when Oracle agreed to provide server capacity for a new AI-assisted version of Bing.
The reported reason is the age of the hardware. Microsoft has been switching off the rented capacity because the older-generation chips no longer fit its needs. Oracle did not deny the report. A spokesperson said demand for its AI cloud infrastructure “remains strong,” including for earlier-generation chips. Oracle also said in September that it was renewing contracts for four-year-old chips at a 20 percent premium to the original price.
The stock fell as low as $109.21 on Friday, down 5.2 percent from Thursday’s close and its lowest price in more than a year, before closing up 0.82 percent (24/7 Wall St.; StockAnalysis).
Why one contract matters
The contract’s size is unknown, so the direct revenue effect cannot be measured from public information. The bigger question for investors is how long older AI chips keep their rental value. Oracle is borrowing heavily to build capacity, and the economics depend on that hardware earning money over several years. Microsoft’s decision is one data point against that assumption; Oracle’s reported 20 percent renewal premium is one in favour.
Customer concentration adds to the pressure. Oracle’s backlog of signed contracts has reached $664 billion, and S&P says a single AI customer accounts for about half of it (24/7 Wall St.). Our CoreWeave page looks at how Microsoft’s spending decisions have hit another AI infrastructure supplier.
The operating numbers remain strong. Revenue in the most recent quarter rose 30 percent to $19.3 billion, and cloud infrastructure revenue rose 121 percent to $7.4 billion (24/7 Wall St.). The market’s concern is how that growth is being funded.
The $20 billion raise still sets the price
Oracle priced the new shares at $116 on 2 November, and Friday’s close was ten cents above that. Monday’s pre-market quote is 50 cents above it. Holders of the new stock are close to break-even, which makes $116 the level the market keeps returning to. Our Saturday Oracle page covers the raise and last week’s sell-off, and our desk reported the day of the announcement.
The other recent setback was the abandoned Tencent compute deal. For the longer-term outlook, see our Oracle forecast page.
Levels to watch
The first test is $116 itself. A close back below it would again leave buyers of the new shares under water and point to Friday’s $109.21 low. Below that level there is no recent price support, since it is the 52-week low.
On the upside, Friday’s $119.70 high is the first resistance, followed by Wednesday’s $123.73 close. The $129.85 high of 4 November and the $130.67 close of 30 October mark the last prices before the raise fully worked through. Benzinga reported on Friday that the stock is nearing a death cross on its 50-week and 200-week moving averages, a long-term signal that many traders treat as bearish.
Oracle closed 64.6 percent below its $328.33 peak of 10 September 2025 on Friday (24/7 Wall St.). StockAnalysis lists an average 12-month target of $235.77 from 42 analysts, with a low of $110 and a high of $400, as of 6 November. That average is about double the current price, a gap that shows how far analyst models are from the market’s view of Oracle’s funding risk.
Oracle stock: bull, base and bear
| Scenario | ORCL | What has to happen | Anchor |
|---|---|---|---|
| Bear | $106 | $116 and Friday’s low both fail as AI selling resumes or CPI lifts rate worries. | A repeat of the 8.76 percent fall on 2 November from $116.50; about 9.0 percent below the pre-market price. |
| Base | $109-$120 | The stock stays in Friday’s range while the market absorbs the new shares and the Microsoft report. | Friday’s $109.21 low and $119.70 high (StockAnalysis). |
| Bull | $130 | AI infrastructure recovers and Oracle shows that older capacity is still being rented at good prices. | The $129.85 high of 4 November and $130.67 close of 30 October; about 11.6 percent above the pre-market price. |
The bear case sits below the pre-market price. These are reference levels measured from StockAnalysis’s 8:07 a.m. ET quote, not forecasts.
What to watch this week
- Monday’s open, 14:30 GMT: whether Oracle joins the rise in US futures or lags it.
- $116: the share-sale price and the level the stock keeps returning to.
- $109.21: Friday’s 52-week low.
- Tuesday 10 November: US October CPI at 8:30 a.m. ET.
- Company comment: any statement from Oracle or Microsoft on the status of the contract.
Quick take: Oracle was indicated at $116.50 pre-market, almost unchanged, after Bloomberg reported that Microsoft is winding down a 2023 AI rental deal over older chips. Oracle says demand remains strong, but the report adds to concern over a $20 billion raise and a concentrated backlog. Below $109.21, $106 is the next reference level; a recovery would first face $119.70 and then $130.
FAQ
What is Oracle’s stock price today?
Oracle closed at $116.10 on Friday 6 November and was indicated at $116.50 pre-market at 8:07 a.m. ET on Monday (StockAnalysis). The regular session opens at 14:30 GMT.
Why did Oracle stock fall on Friday?
The shares fell as low as $109.21 on Friday after Bloomberg reported that Microsoft is winding down a deal to rent AI capacity from Oracle. The stock then recovered to close up 0.82 percent at $116.10.
Is Microsoft ending its Oracle contract?
Bloomberg reported that Microsoft declined to renew a 2023 agreement and has been switching the capacity off in recent months, according to 24/7 Wall St. The size of the deal was never disclosed. Oracle did not deny the report and said demand remains strong.
What is Oracle’s 52-week low?
StockAnalysis lists a 52-week range of $109.21 to $250.25. The low was set on Friday 6 November.
When does Oracle report earnings?
StockAnalysis estimates 9 December 2026. That date is an estimate and Oracle’s own announcement should be treated as final.
What is the Oracle stock price target?
StockAnalysis lists an average 12-month target of $235.77 from 42 analysts as of 6 November, in a range of $110 to $400. Those targets are not guarantees.
What are the key Oracle levels?
The $116 share-sale price, Friday’s $109.21 low and the $106 bear reference below. Friday’s $119.70 high, Wednesday’s $123.73 close and the $129.85-$130.67 area above.
Sources: StockAnalysis, 6-9 November (prices, 52-week range, analyst targets, estimated results date); 24/7 Wall St. citing Bloomberg, 6 November (Microsoft contract, Oracle response, backlog, S&P concentration estimate, revenue, peak close); Benzinga, 6 November (moving averages); Bureau of Labor Statistics release schedule (CPI date); CNBC, 9 November (futures); Oracle pricing release and filings via FinanceFeeds coverage, 2-7 November (share sale and notes).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.