“Mai Kia, Mai Kia… Fake Data”: Market Panics After Bloomberg Report Before Fact Check

In a battle between real and fake news, Bloomberg reported an hour before the market closed that OpenAI and Oracle had halted plans for the Stargate data center in Texas.

Reports also claimed that Nvidia paid $150 million to Crusoe Energy Systems and coordinated with Meta Platforms to lease the site, ensuring incoming customers wouldn’t use GPUs from Advanced Micro Devices.

The headline sent shockwaves through the market, causing Nvidia, Oracle, and several AI infrastructure companies — including Taiwan Semiconductor Manufacturing Company — to plunge right before the closing bell.

Then came the twist.

“Mai Kia, Mai Kia… it’s fake data,” as CNBC later clarified. Oracle confirmed the OpenAI data center plans are still moving forward as scheduled and have not been canceled.

But by then, the damage was already done. Investors had already hit the sell button first and verified the facts later 🤷🏻‍♂️🤷🏻‍♂️.

I nearly had a heart attack too — my $Applied Optoelectronics(AAOI)$   was up 10% earlier, closed with only a 5% gain, and then dropped another 5% in after-hours trading.

Welcome to the AI stock roller coaster 🎢.

$Oracle(ORCL)$  

$NVIDIA(NVDA)$  

$Marvell Technology(MRVL)$  

$Broadcom(AVGO)$  

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