After denying delay in data centre project with OpenAI for months, Oracle goes ahead and scraps it

2026-03-07 - 09:03

Oracle and OpenAI have scrapped plans to expand their flagship Stargate data centre in Abilene, Texas, after months of failed negotiations over financing and shifting demand. The collapse comes despite Oracle repeatedly insisting its OpenAI relationship was on track. The company now sits on over $100 billion in debt, faces potential layoffs of up to 30,000 employees, and has seen its stock halve since September 2025.