Oracle (Oracle) stock has been losing nearly 25% this year, with the stock trading down nearly a quarter. The company's shares have dropped sharply due to concerns about its future as a major player in the artificial intelligence (AI) trade. Wedbush Securities’ Dan Ives, a prominent tech bull on Wall Street, has stated that the market is misinterpreting Oracle's aggressive investment cycle as speculative risk. He argues that Oracle is on a path to become a major infrastructure provider for the AI Revolution and argues that the company's remaining performance obligations, the dollar value of contracts signed but not yet delivered, are up 325% year over year. Additionally, Ives sees a contracted backlog the size of small countries, which is bigger than Walmart's entire annual revenue. The timing of Oracle’s Q3 spending and Q4 revenue loss has also caused concern among investors.