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Since september 10, when oracle announced a $300bn deal with the chatbot maker, its stock has shed $374bn in market value: Two months in, the compute megadeal between oracle and openai is a losing proposition for oracle, the financial times reports. In what was meant to be the crowning achievement of larry ellison’s career, oracle’s securing of a $300 billion contract with openai has instead triggered a paradoxical financial crisis
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The $300 billion agreement between oracle and openai, first revealed on september 10, has gone deep into the red Oracle’s “astonishing quarter” really has cost it nearly as much as one general motors, or two kraft heinz. Negative $74 billion to be exact
The market wiped out $315 billion from oracle.
Oracle’s stock has dropped 33% after ai hype faded and investor doubts grew The company is raising $38b in debt, pushing total obligations to $96b Oracle is facing one of its toughest market moments after the. But equivalents to oracle shares are little changed over the same period (nasdaq composite, microsoft, dow jones us software index), so the $60bn loss figure is not entirely wrong
