This looks like the calm right before sellers decide to press the button.

Nasdaq is forming a head & shoulders.
Nvidia is forming a bear flag.
Amazon is forming a head & shoulders.
Microsoft is forming a bear flag.

But none of these have broken down yet.

Oracle pushes back several data centers for OpenAI to 2028 from 2027, Bloomberg News reports

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, a ‌year later than planned, due to labor and material shortages.

“There have been no delays to any sites required to meet our contractual commitments, and all milestones ‌remain on track,” Oracle spokesperson Michael Egbert told Reuters in an emailed statement.

“We remain fully aligned with OpenAI and confident in our ability to execute against both our contractual commitments and future expansion plans,” Egbert added.

Shares of Oracle, which had fallen 3.6% following the report, pared some losses to be down by 2.8% in afternoon trading. Other AI-related shares also tumbled, with chip giant Nvidia, ⁠Advanced Micro Devices, Micron and Arm Holdings down ‌between 2% and 4.5%.

The Bloomberg report came a day after Oracle logged its biggest stock drop since late January, following earnings that showed rising spending and a weak outlook for a company ‍that is increasingly reliant on OpenAI.

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