Dec 12 (Reuters) – Oracle has pushed back the completion dates for some of the data centers it is developing for OpenAI to 2028 from 2027, Bloomberg News reported on Friday citing people familiar with the work. The company's shares were down nearly 5%. Shares of Nvidia, AMD, Micron and Arm were down between 3% and 6%. Oracle, long a smaller cloud player, has vaulted into the artificial intelligence infrastructure race this year on the back of a $300 billion OpenAI deal, tethering the company's fortunes to the ChatGPT maker. The delays are largely due to labor and material shortages, according to the Bloomberg report. Reuters could not immediately verify the report. Oracle and OpenAI did not immediately respond to requests for comment. Oracle's shares have been falling since its earnings report on Wednesday, sparking a tech selloff on Thursday. It warned capital expenditures for fiscal 2026 were now expected to be $15 billion higher than it had estimated in September. Investors are also concerned about Oracle's debt-fueled AI build-out. (Reporting by Juby Babu in Mexico City; Editing by Krishna Chandra ELuri)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
