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Oracle and OpenAI canceled Texas AI data center expansion due to financing issues, impacting stocks and prompting job cuts.
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.
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.
Meta is now in talks to lease the expanded space, with Nvidia helping broker the deal and placing a $150 million deposit.
The cancellation affected AI-related stocks, with NVIDIA falling as much as 2.5%.
Oracle is also cutting jobs and raising up to $50 billion in funding amid a broader restructuring.
Oracle y OpenAI cancelaron la expansión del centro de datos de IA de Texas debido a problemas de financiamiento, impactando las acciones y provocando recortes de empleos.