On Friday, December 12th, Oracle denied a media report claiming it was delaying the completion of data centers intended for its partner, OpenAI. The initial Bloomberg report alleged that labor and material shortages had pushed the timeline for some projects back one year, setting completion for 2028.
An Oracle spokesperson stated that the company has experienced "no delays to any sites required to meet our contractual commitments." The spokesperson affirmed that all project milestones remain on track.
The initial report immediately caused Oracle’s shares to fall by as much as 3.6%. This decline contributed to a weekly stock drop of nearly 13% and prompted a sell-off across other AI-related stocks.
Market sensitivity follows Oracle’s recent earnings report, which fueled investor anxiety. Investors are concerned about the company’s aggressive, debt-funded expansion into AI infrastructure. Furthermore, the market notes Oracle’s heavy reliance on the success of the OpenAI partnership.