Market is seeing right through all of these garbage AI deals. The six-month rising channel has been breached.

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The $300 billion agreement between Oracle and OpenAI, first revealed on September 10, has gone deep into the red; negative $74 billion to be exact.

The market wiped out $315 billion from Oracle’s value since the announcement, a loss that not only erased the entire worth of the deal but also torched the equivalent of General Motors plus two Kraft Heinz.

While major tech benchmarks like the Nasdaq Composite, Microsoft, and the Dow Jones US Software Index stayed mostly unchanged, Oracle got smoked.

The brutal fall wasn’t because of overall market pressure, it was all about Larry Ellison’s bet. Oracle threw billions into a deal built on credit, hoping it could become OpenAI’s main infrastructure partner. Investors didn’t like that. Not when the entire business model is now tied to one customer and one moonshot mission: artificial general intelligence.

https://www.msn.com/en-us/money/savingandinvesting/oracle-has-lost-315-billion-in-market-value-since-announcing-its-300-billion-deal-with-openai/ar-AA1QH6et