Oracle stock took a dive as investors focused on disappointing financial forecasts from management, rather than data showing a healthy backlog of unbooked revenue. Late Tuesday morning, Oracle stock was down 4.

Oracle Corp. regaled Wall Street on Monday with talk about the future, enormous demand and some very large cloud-services contracts, but its stock continued a downward trend over concerns about growing costs associated with building out more data centers.

Artificial intelligence (AI) has been a boon for a number of businesses, including Oracle (NYSE: ORCL). AI energized the tech company's fortunes, sending its shares soaring 50% over the past 12 months through the week ending Feb.