Oracle’s 10% Stock Drop, $523 Billion RPO and Larry Ellison’s Political Reach in the AI Era

Over the week, Oracle’s share price fell around 10% after its Q2 2026 earnings, as quarterly revenue of $16.06 billion came in below the $16.21 billion forecast. Yet the company’s remaining performance obligations climbed to $523 billion and high-margin cloud services expanded rapidly, while Larry Ellison’s influence in political and defense circles underpins expectations for future AI and government contracts. These factors suggest the pullback in ORCL may reflect timing of revenue conversion more than a broad AI bubble reversal.