Oracle’s stock dropped over 4% on Friday following reports of delays to data centers being built for OpenAI. The reports claimed completion dates shifted from 2027 to 2028, citing shortages of labor and materials. Some outlets indicated the decline reached as much as 6.5%.
Oracle issued a strong denial in response. A company spokesperson confirmed that all project milestones remain on track. The firm stated there are no delays to any sites required to meet its contractual commitments with OpenAI.
The data center construction is part of a multi-year contract. This agreement, valued at approximately $300 billion, provides large-scale computing power specifically for OpenAI’s AI models.