Data center

Oracle’s stock has plunged significantly, impacting its data center projects. A major setback occurred when Blue Owl Capital reportedly withdrew from a $10 billion deal due to debt concerns. This highlights investor anxiety over Oracle’s debt, especially with AI infrastructure demand. Reports of potential delays in data center construction for OpenAI, despite Oracle’s denials, further fuel market wariness. Oracle’s stock decline also affected other tech giants and broader market indexes. While some analysts remain optimistic about AI’s long-term potential, they also warn of a potential speculative bubble. Meanwhile, European central banks are nearing monetary policy decisions, adding complexity to the global financial landscape.

Oracle’s stock fell 6% after a report claimed financing talks for a $10 billion Michigan data center stalled due to concerns over Oracle’s debt and AI spending. Oracle refuted the report, stating the project is on schedule and a different equity partner was chosen. While Blue Owl Capital is not involved in this specific deal, they have previously backed Oracle’s data center projects. The company’s aggressive expansion and significant debt are key factors for investors as demand for AI infrastructure surges.

The AI stock sell-off persisted as investors weigh whether AI-driven revenue can sustain profits amid price competition and deal-cycle uncertainty. Broadcom beat on revenue but signaled tighter margins, while Nvidia, AMD, and Oracle also fell. Analysts note a split between expanding AI opportunities and margin discipline, with some seeing 2026 profitability from data-center growth and others warning near-term sentiment remains fragile. News brief: Oracle denied OpenAI data-center delays; Coinbase plans in-house prediction markets powered by Kalshi. Berkshire’s leadership transition and upcoming European policy events add macro headwinds.

Micron announced it will exit the consumer “Crucial” memory business to focus on high‑performance AI chips and high‑bandwidth memory for data‑center workloads. The shift aims to meet surging AI‑driven demand and reallocate capacity to higher‑margin segments, despite a 3% stock dip after the news. Micron now competes with SK Hynix and Samsung as the sole U.S. supplier, supporting Nvidia, AMD and Google’s AI accelerators, while analysts raise its price target amid strong cloud‑memory growth.

Nvidia’s Q3 FY26 revenue surged 62% to $57.01 billion, exceeding expectations, driven by AI demand. Earnings per share also beat estimates, sending shares up 5% after-hours. Management’s guidance for Q4 projects $65 billion in revenue, surpassing consensus. CEO Jensen Huang highlighted the shift to GPU-accelerated computing, the AI tipping point, and the emergence of agentic AI as growth drivers. Strong demand for Blackwell chips and a $500 billion order backlog for Blackwell and Rubin architectures support future growth.

Nvidia and xAI announced a partnership to build a massive data center in Saudi Arabia, powered by hundreds of thousands of Nvidia GPUs. This project, backed by the Saudi Public Investment Fund through Humain, aims to establish a leading AI infrastructure hub and signifies a deepening technological collaboration. AMD and Qualcomm will also contribute chips. This aligns with Nvidia’s “sovereign AI” vision, where nations develop dedicated AI infrastructure for security and cultural identity.

Cathedra Bitcoin (CBTTF) announced its Q3 2025 financial results, reporting C$5.5 million in revenue and a net loss of C$0.8 million, a C$3.2 million improvement year-over-year. Subsequent to the quarter, Cathedra executed a 30:1 share consolidation and completed a 15 MW data center in Kentucky, increasing power capacity by 50%. The company aims to expand hosted infrastructure, optimize customer balance, and diversify its power portfolio, while actively scaling its energy infrastructure amid increasing demand for Bitcoin mining and hosting services.

AMD CEO Lisa Su defended Big Tech’s AI investments as calculated moves, not gambles, leading to a 10% surge in AMD shares. She cited increased capital expenditures from hyperscalers due to AI reaching an “inflection point.” While acknowledging concerns of an AI bubble, fueled by short-seller Michael Burry’s stance and Softbank’s Nvidia stake sale, Su remained confident in AMD’s growth, projecting 35% annual revenue growth driven by “insatiable” AI chip demand and aiming for a double-digit market share in data center AI chips.

AMD projects 35% annual revenue growth over the next 3-5 years, driven by an 80% annual expansion in its AI data center business, potentially reaching tens of billions in sales by 2027. The company aims for a double-digit share in the data center AI chip market, challenging Nvidia’s dominance. AMD is partnering with OpenAI to supply Instinct AI chips. The total addressable market for AI data centers is estimated to reach $1 trillion by 2030. Despite the AI focus, AMD’s legacy businesses are also experiencing growth.

TeraWulf (WULF) priced a $900M private offering of 0.00% Convertible Senior Notes due 2032, potentially reaching $999.7M. Net proceeds will fund a data center campus in Abernathy, Texas, and general corporate expenditures. The initial conversion rate is 50.1567 shares per $1,000, implying a ~$19.94 conversion price. The notes, maturing May 1, 2032, include a 37.5% conversion premium and an option for initial purchasers to acquire an additional $125M.