Oracle Stock Slides as OpenAI Misses Put $300 Billion AI Deal Under Pressure
Oracle shares fell 7.7% to $159.80 in premarket trading Tuesday after reports OpenAI missed recent user and revenue targets. CoreWeave dropped 7.4%, and SoftBank closed down nearly 10% in Tokyo. Oracle has a $300 billion, five-year contract to supply computing power to OpenAI. Lenders remain cautious, with Oracle expected to need over $100 billion in additional cash funding for 2027 and early 2028.