By Rich Duprey
Publication Date: 2026-03-07 16:46:00
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oracle (ORCL) is 56% below its 52-week high; Jefferies lowered its price target to $320 from $400 after halting expansion OpenAI on the $500 billion Stargate project. Nvidia posted $150 million; Meta eyes tenancy; Microsoft is partner.
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Oracle and OpenAI have put their data center expansion plans on hold after negotiations stalled over financing terms and OpenAI’s evolving computing needs, but the core agreement remains intact.
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Last year, oracle (NYSE:ORCL) announced a massive $500 billion data center project in Texas, enlisting major AI stocks as partners. The Stargate initiative has been positioned as a transformative leap for the company’s cloud business and promises to drive next-generation AI workloads and deliver tremendous revenue growth.
While questions arose about Oracle’s financials and the debt the company took on to finance the massive expansion, Wall Street largely viewed it as…
