Oracle is Already Underwater On Its 'Astonishing' $300B OpenAI Deal

An anonymous reader shares a report: It's too soon to be talking about the Curse of OpenAI, but we're going to anyway. Since September 10, when Oracle announced a $300 billion deal with the chatbot maker, its stock has shed $315 billion in market value.

OK, yes, it's a gross simplification to just look at market cap. But equivalents to Oracle shares are little changed over the same period (Nasdaq Composite, Microsoft, Dow Jones US Software Index), so the $15 billion loss figure [figure updated with stock price] is not entirely wrong. Oracle's 'astonishing quarter' really has cost it nearly as much as one General Motors, or two Kraft Heinz.

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