Oracle Stock Dips After Reports Scrapped Abilene AI Data Center Expansion
TL;DR Summary
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.
- Oracle Stock (ORCL) Punished on Reports Its Scrapping Plans for a Data Center Expansion TipRanks
- Oracle and OpenAI End Plans to Expand Flagship Data Center Yahoo Finance
- OpenAI and Oracle Curtail Data Center Expansion in Abilene, Texas Barron's
- OpenAI Will Not Expand Abilene Data Center, Nvidia Tries to Recruit Meta to Site The Information
- 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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