Oracle (ORCL) has pushed back the completion dates for some of the data centers it’s developing for the artificial intelligence model developer OpenAI (OPENAI) to 2028 from 2027, Bloomberg News reported,

Oracle and Broadcom, whose stock prices surged on the artificial intelligence (AI) boom, reignited concerns about an AI bubble after reporting underwhelming earnings that fell short of expectations. Oracle announced on the 10th (local time) that its revenue for September–November this year increased 14% year-on-year to $16.

Shares of Oracle plunged 14% Thursday morning and sent a shiver through the entire AI trade as investors questioned the sustainability of Big Tech’s spending.

Most U.S. stocks are rising, but a drop for Oracle is holding Wall Street back as investors question whether its big spending on artificial-intelligence technology will pay off

Dec 12 (Reuters) - Oracle denied on Friday a media report that it was delaying OpenAI-related data centers, following investor worries over its debt-fueled AI infrastructure buildout. Bloomberg News had earlier in the day reported that Oracle had pushed back the completion dates for some data centers it is developing for OpenAI to 2028,

Fed Chair Jerome Powell signaled the easing cycle may now be on hold, stressing the need to assess how the economy responds to cumulative rate cuts.

Most U.S. stocks are rising on Thursday, but a sell-off for Oracle is weighing on Wall Street as investors question whether its big spending on artificial-intelligence technology will pay off. Doubts remain about whether all the spending that Oracle is doing on AI technology will produce the payoff of increased profits and productivity that proponents are promising.

Investors are concerned that Oracle's spending is too aggressive.

While the company beat EPS estimates and increased its AI deal pipeline, concerns over its financing strategy remain.