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NEW YORK, United States — Shares in Oracle and CoreWeave slid Tuesday after a Wall Street Journal report said OpenAI had missed internal targets for users and revenue, stoking fresh fears about whether massive spending on artificial intelligence (AI) infrastructure can be sustained.
Oracle dropped 4 percent to $166 on Wall Street. The tech giant has signed one of the biggest cloud deals with OpenAI, amounting to $300 billion in computing power over five years.
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CoreWeave’s shares slid 3.7 percent to $107.70. The Nvidia-backed AI startup signed an $11.9 billion contract with OpenAI last month to provide AI infrastructure.
