On Friday Oracle firmly rejected a Bloomberg report claiming several data centers for OpenAI would not be delivered before 2028, i.e. a one-year slip from the initial schedule. In a statement to CNBC, the company said all contractual milestones are being met and timelines were jointly validated with OpenAI after the contract was signed. "There have been no delays on the sites required to meet our contractual commitments," a spokesperson said.
The denial came as Oracle shares fell 6.5% intraday on Friday, hitting a low of $185.98 after the report cited challenges tied to labor and materials shortages. While Oracle says the project remains on track, it provided no detail on the exact date for full commissioning of the OpenAI-dedicated cloud infrastructure, a major $300bn contract concluded in September.
The partnership fits into Oracle's diversification strategy, with the company now generating more than a quarter of its revenue from cloud operations, though it still trails Amazon, Microsoft and Alphabet in the segment. Meanwhile, OpenAI is expanding collaborations to meet its growing compute needs: a letter of intent has been signed with Nvidia to deploy 10 gigawatts of hardware starting in 2026, and a strategic agreement has been struck with Broadcom to design custom chips, with deliveries expected from 2027. Neither company wished to comment further on these projects.
