Oracle Stock Drops on OpenAI Shock. CoreWeave, SoftBank Also Hit. -- Barrons.com

Dow Jones17:22

By Adam Clark

Oracle stock was falling early Tuesday. The software-and-cloud computing company's relationship with ChatGPT-developer OpenAI is under scrutiny again.

The shares were down 4.1% in premarket trading. OpenAI has recently missed its own targets for new users and revenue, leading to concerns among executives about whether it will be able to fulfill its spending commitments, The Wall Street Journal reported, citing people familiar with the matter.

OpenAI didn't immediately respond to a request for comment from Barron's early on Tuesday. The company told the Journal it was "buying as much compute as we can."

Anything that is bad news for OpenAI is bad news for Oracle, which has a contract to provide $300 billion in computing power for the artificial-intelligence company over roughly five years. That accounts for the majority of Oracle's huge cloud-computing backlog.

Shares of other companies with ties to OpenAI were also falling. Japan's SoftBank Group -- a significant investor in OpenAI -- fell 9.9% in local trading, while cloud-computing company CoreWeave was down 3.5% in Tuesday's premarket.

Write to Adam Clark at adam.clark@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

 

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April 28, 2026 05:22 ET (09:22 GMT)

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