On Second Thought, Never Mind: Here’s Why ORCL’s Larry Ellison Just Canceled $7.5 Billion Stock Sale

Larry Ellison canceled a $7.5B plan to sell 50M ORCL shares, signaling he views the stock as undervalued after a 22% year-to-date drop.

Oracle's AI cloud business exploded 121% year over year, pushing Remaining Performance Obligations to $664B and full-year revenue guidance to $90B.

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The controlling shareholder of one of Wall Street's largest AI infrastructure builders just walked away from cashing in $7.5 billion of stock. That decision, more than any single line in the quarterly filing, tells long-term holders where Larry Ellison thinks Oracle ( NYSE:ORCL ) is headed next.

The number is $7.5 billion, the approximate value of the Oracle stock Ellison had authorized himself to sell before backing out. Under a Rule 10b5-1 trading plan adopted June 22, 2026, the Executive Chair and Chief Technology Officer could have sold up to 50 million shares through October 24. In a regulatory filing on Sept. 11, Oracle disclosed the plan had been canceled, and the company confirmed it publicly the next day. No shares were sold under the plan, and no other plans to sell Oracle stock were disclosed. Oracle offered no reason for the cancellation.

Insider trading plans of this size do work as market signals. A preannounced sell program from a controlling shareholder creates an overhang, the constant expectation that shares will hit the market at scheduled intervals. Ellison has historically sold very little stock, and the plan itself was unusual for him. Canceling it removes the overhang entirely.

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Context matters. Oracle stock had fallen roughly 16% to 18% since the plan was adopted in late June, and a person close to Ellison said he views the shares as undervalued. Selling into weakness would have locked in reduced value on a stake worth billions. Pulling the plan preserves optionality on a rebound and, more importantly for outside holders, delivers a public signal of conviction from the person who knows Oracle's AI cloud pipeline better than anyone.