AI stocks drop premarket after Oracle's downbeat forecasts

U.S. AI-related stocks fall premarket after Oracle ORCL.N forecast sales and profit below analyst estimates and flagged higher capex late on Wednesday

Oracle shares down 12%

Cloud AI infrastructure co CoreWeave CRWV.O down 3.6%, Nvidia NVDA.O drops 1.9%, Advanced Micro Devices AMD.O down 1.6% and Micron Technology MU.O slips 2%

Microsoft's MSFT.O shares fall 1.1%

"Oracle's softer results reminded investors that not every tech story is bulletproof," says Matt Britzman, senior equity analyst, Hargreaves Lansdown

YTD, ORCL had risen ~34%, NVDA up 36.8%, MSFT up 13.5% and AMD up 83.3% vs 17% increase in S&P 500 .SPX index