Oracle stock falls on more debt to fund AI chip buying, Open AI revenue disclosure

What happened: Oracle (ORCL) stock fell 5% Thursday after OpenAI disclosed softer revenue and the Wall Street Journal reported Oracle and other tech firms are preparing to tap debt markets to fund AI infrastructure. Why it matters: The report says Oracle wants a deal done as soon as this year, with investors funding a separate company that buys chips Oracle would lease, to avoid borrowing more itself. Broadcom (AVGO) and SpaceX (SPCX) were also named as pursuing similar deals. Market: +2.9% by next close ($118.67 on Oct 9), -22.0% YTD

Oracle (ORCL) stock fell 5% Thursday after OpenAI disclosed softer revenue and the Wall Street Journal reported Oracle and other tech firms are preparing to tap debt markets to fund AI infrastructure.

The report says Oracle wants a deal done as soon as this year, with investors funding a separate company that buys chips Oracle would lease, to avoid borrowing more itself. Broadcom (AVGO) and SpaceX (SPCX) were also named as pursuing similar deals. Market: +2.9% by next close ($118.67 on Oct 9), -22.0% YTD