Oracle Shares Drop over 5% as Some Oracle Data Centers For OpenAI Delayed To 2028 From 2027

Tiger Newspress12-13 00:06

Oracle Corp. has pushed back the completion dates for some of the data centers it’s developing for the artificial intelligence model developer OpenAI to 2028 from 2027, according to people familiar with the work, Bloomberg reported.

The delays are largely due to labor and material shortages, said the people, asking not to be identified discussing private schedules.

Oracle shares dropped over 5% on Friday.

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Comments

  • a4xrbj1
    12-14 17:39
    a4xrbj1
    Likely These data centers will never be build or not finished because the AI circle jerk bubble will burst way before that. There's Little revenue and no profit to show for these pipe dreams that rally the stock market.
  • KienBoon
    12-13 07:51
    KienBoon
    Like that also down 5%. Lol. Thought it is common for infrastructures to be delayed slightly. US counters are really super volatile. [Speechless]  [Speechless]  Moreover Fed just cut rate.
  • mark2012
    12-13 03:28
    mark2012
    Oh well that's life. Don't panic , it's only unverified reports. 
    • mark2012: 
      it's important note why the centre's have been pushed back, it's not due for demand or cost overruns. this can change it is only an unsubstantiated report. oracle's leverage is more a risk. I think it's important to note. that this company has been around a longtime and will be around a longtime into the future i suspect. don't panic😀🤗
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