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Oracle Stock Dips After Reports Scrapped Abilene AI Data Center Expansion

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Source: TipRanks
Oracle Stock Dips After Reports Scrapped Abilene AI Data Center Expansion
Photo: TipRanks
TL;DR

Oracle’s stock fell as reports indicated it canceled plans to expand its Abilene, Texas AI data center amid cost-cutting on AI investments; Nvidia helped facilitate talks with Meta, which later leased the site from Crusoe, while Oracle and OpenAI reportedly canceled the expansion. Despite the setback, Oracle maintains a Strong Buy consensus with an average target around $270.

Topics:businessmarket-news#datacenter#market-news#meta#nvda#openai#orcl
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  1. Oracle Stock (ORCL) Punished on Reports Its Scrapping Plans for a Data Center Expansion  TipRanks
  2. Oracle and OpenAI End Plans to Expand Flagship Data Center  Yahoo Finance
  3. OpenAI and Oracle Curtail Data Center Expansion in Abilene, Texas  Barron's
  4. OpenAI Will Not Expand Abilene Data Center, Nvidia Tries to Recruit Meta to Site  The Information
  5. Oracle/OpenAI drop plans to expand flagship Abilene Stargate site, Meta in talks to pick up Crusoe capacity with Nvidia's help  Data Center Dynamics

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