Understanding the Market | Cloud Computing Concept Plummets, Alibaba Drops Nearly 4%, Oracle's Cloud Business Reported to Have Poor Profit Margins
The cloud computing concept has collectively plummeted. As of the time of writing, Hongteng Precision has dropped 5.24%, trading at HKD 6.51; Alibaba-W has fallen 3.27%, trading at HKD 174.6; KINGSOFT has decreased by 3.25%, trading at HKD 32.78; and Neway Group has declined 1.45%, trading at HKD 6.8. In terms of news, media reports citing internal documents indicate that in the company's last fiscal quarter ending in August, Oracle's server leasing recorded revenue of USD 900 million and gross profit of USD 125 million; the documents also revealed that Oracle incurred a loss of about USD 100 million in NVIDIA Blackwell leasing. On Tuesday, Oracle's stock price fell as much as 7.1%, ultimately closing down about 2.5%, dragging down the performance of the AI industry chain in the US stock market
According to the Zhitong Finance APP, the cloud computing concept has collectively plummeted. As of the time of publication, Hongteng Precision (06088) fell by 5.24%, trading at HKD 6.51; Alibaba-W (09988) dropped by 3.27%, trading at HKD 174.6; KINGSOFT (03888) decreased by 3.25%, trading at HKD 32.78; and Neway Group (01686) fell by 1.45%, trading at HKD 6.8.
On the news front, media reports citing internal documents stated that in the company's last fiscal quarter ending in August, Oracle's server leasing recorded revenue of USD 900 million and gross profit of USD 125 million. The documents also revealed that Oracle incurred a loss of approximately USD 100 million in leasing from NVIDIA's Blackwell. On Tuesday, Oracle's stock price fell by as much as 7.1% at one point, ultimately closing down about 2.5%, dragging down the performance of the AI industry chain in the US stock market
