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Oracle AI Cloud Revenue Up 121% Oracle's earnings report is on the surface solid evidence of AI demand, but underneath it is a liquidity pump running at full speed. Who is the money being drained by? Oracle's quarterly capital expenditure is $28.5 billion, free cash flow is negative $5.4 billion, and it fills the gap by selling $20 billion in stock. This is not an isolated case—Google's free cash flow turned negative for the first time since its 2004 IPO, and Alibaba had a quarterly outflow of 4