ChatGPT curse? Oracle loses $300 billion in market value after OpenAI mega deal

Oracle’s bold push into artificial intelligence has sent shockwaves through financial markets, wiping out more than $300 billion in its market capitalization since the company unveiled its massive partnership with OpenAI in September.

A report from the Financial Times notes that Oracle’s stock has fallen sharply following the announcement of its nearly $300 billion commitment to build out AI computing capacity for OpenAI.