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Oracle’s “ astonishing quarter ” really has cost it as much as one dell, or two ebays Oracle is facing one of its toughest market moments after the company’s massive ai deal with openai collided with rising doubts from wall street. 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 The deal — which will run ai workloads on oracle’s cloud infrastructure — catapulted the company’s remaining performance obligations from $99 billion to $455 billion in a single fiscal stretch. Negative $74 billion to be exact
The market wiped out $315 billion from oracle.
Two months in, the compute megadeal between oracle and openai is a losing proposition for oracle, the financial times reports.
