OpenAI’s Sam Altman ‘makes’ Oracle do what it has never done in its history, ‘BURN’ $10 billion and borrow for …

Just months after Oracle stock hit historic high, stunning Wall Street, after it inked a $300 billion deal with ChatGPT-maker OpenAI, the company seems to be feeling AI jitters. A smaller player in the cloud market for a long time, Oracle this September staked claim as one of the bigger providers of the rented computing power crucial for generative AI after its tie-up with ChatGPT-creator OpenAI. The same month Oracle raised $18 billion in a jumbo bond sale the same month, one of the largest debt issuances on record in the tech industry. Now, just months later, on December 10, the software giant posted quarterly results that fell short of Wall Street’s revenue expectations pulling the stock more than 11% in after-hours trading. The not-so-happy results come after Oracle’s historic stock surge in September that valued the company at $500 billion and made its founder Larry Ellison world’s richest man (though only for a day).