Oracle (ORCL) news that moved the stock

What happened

The Wall Street Journal reported that Broadcom has spent recent weeks working to arrange more than $50 billion in financing for the custom AI chip it is developing with OpenAI, with Apollo and Blackstone among the lenders approached. Separately, Oracle is in talks with Apollo and Goldman Sachs to fund a large chip purchase, likely through a separate entity that would buy the chips and lease them to Oracle. SpaceX has also spoken with lenders in recent days about a roughly $40 billion financing tied to Nvidia chips, first reported by the FT. Talks are at an early stage and deal sizes could change, but Broadcom and Oracle aim to close before year-end. Reuters' Thursday 'Open Interest' market piece highlighted these reports as the latest turn in the 'circular financing' wave in AI.

What happened

The Financial Times reported Wednesday (Sep 30), citing two people familiar with the matter, that Tencent has signed a five-year, roughly $7 billion lease with Oracle for about 100,000 advanced AI chips housed in Oracle data centers across Southeast Asia, with ~30% (~$2.1B) paid upfront. The chips — believed to be high-end Nvidia silicon not directly available for sale in China under U.S. export rules — never enter China; the arrangement exploits the gap that bars outright purchase but permits leasing compute capacity overseas. It is Tencent's largest-ever overseas lease agreement and already weighed on its free cash flow, producing Tencent's first negative quarterly cash flow in over a decade. Reuters carried the FT report the same day but said it could not independently verify the figures; neither Oracle nor Tencent commented. Oracle shares rose nearly 2% in premarket trading Thursday.

What happened

On Sept. 24, 2026, Bloomberg reported that Oracle had sent a force majeure notice to the developer of Project Jupiter, its massive AI data center campus in Doña Ana County, New Mexico (near Santa Teresa, ~1,400 acres, designed for 2.45 gigawatts). The notice — sent to Stack Infrastructure, a unit of Blue Owl Capital — seeks to preserve Oracle's right to defer rent payments for up to three years if the campus misses its planned 2028 opening (specifically a March 2028 target). Oracle shares fell about 4.4% to ~$138.15–$139.54 on Sept. 24 (volume 37.1 million shares, 1.23× average), more than $100 below the stock's 2026 peak of ~$248 in early June. Oracle said 'Project Jupiter remains on our planned schedule' and that such notices are 'commonplace in developments of this scale'; Blue Owl said the notice does not change financial commitments to the project.