Why Oracle Stock Got Trounced Today
The company's major plans for its data center future suffered a setback.
Overview
Oracle's (NYSE: ORCL) ambitious plans to transform into a leading next-generation data center operator hit a snag on Friday, prompting many investors to sell the stock. Shares of the veteran tech company lost almost 4% of their value on a day when the S&P 500 index only slumped by 0.2%.
A natural gas pipeline project slated to supply power to an Oracle artificial intelligence (AI) data center complex in New Mexico will be delayed by six months. This was announced in a regulatory filing by the pipeline's operator, Energy Transfer subsidiary Transwestern Pipeline.
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Originally published at www.fool.com.
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