The deal is expected to close next month, with Oracle, Silver Lake and MGX owning 45% of TikTok’s U.S. business.

A memo from TikTok’s top executive reportedly says that the social-media phenomenon inked deals to create a U.S. joint venture, with Oracle’s cloud business as its backbone.

Oracle's relationship with OpenAI has become a never-ending source of market angst, as the tie-in reminds many of questionable vendor-financing practices from the late 1990s. But is the caution overblown?

CoreWeave and Oracle have borrowed heavily to build more AI data-center capacity, spooking bond markets and sending debt-insurance prices soaring.

The cloud company later said the project was moving forward and "on schedule," but that Blue Owl was not part of equity talks.

Oracle said talks for an equity deal to support its Michigan data center project remain on schedule and do not include Blue Owl Capital, after a report of stalled negotiations with the crucial partner knocked its shares down 5% on Wednesday.

It hasn't been that long since Oracle was an AI darling. A lot can change in a few months.

Oracle Corp. said final negotiations on an equity deal for a data center project in Michigan are “on schedule” and doesn’t include Blue Owl Capital, a firm that has helped finance massive data center projects for firms including Oracle and Meta Platforms Inc.

The Abilene site, which will be OpenAI’s first large data centre in the US when it completes in mid-2027, is majority owned by Blue Owl. It invested about $3bn of equity and borrowed approximately $10bn from JPMorgan to fund the construction.

An update on Oracle's data center plans was the latest development giving investors anxiety about the health of the AI trade on Wednesday.

The delivery company posted better-than-projected quarterly results, boosted by higher U.S. package shipments. It ra