Oracle (ORCL.US) Drops Over 3% Amid Reports of Delayed OpenAI Data Center Deliveries

Stock News12-15 23:00

On Monday, Oracle (ORCL.US) shares extended last week's decline, falling over 3% to $183.51. Reports indicate that the company has delayed the delivery of multiple large-scale AI data centers planned for OpenAI. These affected facilities are part of the "Stargate" project announced in January this year.

The primary reasons for the delay include shortages of skilled labor and certain materials. While the specific categories of the missing supplies remain unclear, speculation suggests they may involve critical construction materials or data center equipment.

Despite the project timeline being pushed back from 2027 to 2028, the overall scale of Oracle's construction plans for OpenAI remains unchanged. In July this year, Oracle and OpenAI officially entered into a cooperation agreement. The two parties aim to expand the "Stargate" AI data center to include 2 million AI accelerators and supporting 5-gigawatt power facilities. Once completed, the project is expected to become one of the largest data centers globally.

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