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flag Oracle and OpenAI canceled Texas AI data center expansion due to financing issues, impacting stocks and prompting job cuts.

flag Oracle and OpenAI have canceled plans to expand their Texas AI data center in Abilene, citing stalled financing and shifting priorities, according to Bloomberg News. flag The move halts the proposed increase from 1.2 GW to 2.0 GW, though the existing site remains active and other projects under their 4.5 GW agreement continue. flag Meta is now in talks to lease the expanded space, with Nvidia helping broker the deal and placing a $150 million deposit. flag The cancellation affected AI-related stocks, with NVIDIA falling as much as 2.5%. flag Oracle is also cutting jobs and raising up to $50 billion in funding amid a broader restructuring.

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