Oracle’s OpenAI reliance faces scrutiny as debt-fueled AI buildout raises worries

Months after Oracle’s $400 billion-plus contract backlog ignited a stock-market frenzy, the enthusiasm has given way to doubts about its reliance on OpenAI and debt-fueled datacenter buildout, which will dominate its earnings on Wednesday.

A smaller player in the cloud market for a long time, Oracle this year staked claim as one of the bigger providers of the rented computing power essential for generative AI thanks to its tie-up with ChatGPT-creator OpenAI.