Oracle Q4 earnings and revenue top estimates; hyperscaler plans more debt issuance to support massive capex push
The company posted Q4 FY 2026 earnings Wednesday after the bell.
Report: OpenAI and Nvidia in talks to team up for 10-gigawatt data center in Ohio
Fresh off scaling back ambitious plans for its Stargate data centers, OpenAI may be moving forward with a new plan: a 10-gigawatt data center in Ohio powered and backed by Nvidia.
According to a report by The Information, the new data center, built on federal land, would dwarf the largest data centers being built today in terms of computing power.
The facility would cost about $500 billion to build, and OpenAI would would own the equipment and be on the hook for 20 years of lease payments, which Nvidia would provide a backstop for, per the report.
If this sounds familiar, Nvidia and OpenAI did announce a similar deal back in September. Nvidia said it would invest as much as $100 billion in what CEO Jensen Huang called “the biggest AI infrastructure project in history,” which never came to fruition (though Nvidia did invest $30 billion in OpenAI). Per the report, this potential deal is a new plan.
OpenAI’s Stargate partner SoftBank is part of the plan as well. SoftBank’s SB Energy is providing financing for the project, and broke ground on the facility in March. The land on which the data center would be built is owned by the Department of Energy.
The facility would cost about $500 billion to build, and OpenAI would would own the equipment and be on the hook for 20 years of lease payments, which Nvidia would provide a backstop for, per the report.
If this sounds familiar, Nvidia and OpenAI did announce a similar deal back in September. Nvidia said it would invest as much as $100 billion in what CEO Jensen Huang called “the biggest AI infrastructure project in history,” which never came to fruition (though Nvidia did invest $30 billion in OpenAI). Per the report, this potential deal is a new plan.
OpenAI’s Stargate partner SoftBank is part of the plan as well. SoftBank’s SB Energy is providing financing for the project, and broke ground on the facility in March. The land on which the data center would be built is owned by the Department of Energy.
The robots are coming... to help small businesses, actually
Labor shortages, not bots, are the bane of so-called blue-collar businesses.
Amazon just secured a massive $17.5 billion line of credit
Amazon has landed a $17.5 billion line of credit arranged by Citibank, according to a new SEC filing.
While the filing says the money is for “general corporate purposes,” the company is clearly on a global borrowing spree to fund its massive AI infrastructure investments, with $200 billion in planned capex this year. For perspective, that budget is larger than the entire GDP of most countries. This giant credit line comes shortly after Amazon shattered the record for issuance in Canada’s “maple bond” market.
The spending is so aggressive that credit rating agency S&P recently warned Amazon’s “leverage will increase substantially” and it will likely report negative free operating cash flow over the next two years to support the data center build-out. Yet, Amazon is rushing to borrow anyway, hoping to service a massive $364 billion cloud backlog.
I didn’t make this up: Tesla currently has authorization for 69 unsupervised Robotaxis in Texas, according to the state’s database. That’s up from 42 — perhaps a reference to 420 — last month. While that represents growth, it’s far from the scale that CEO Elon Musk had promised.
And having permission to be on the road doesn’t mean the vehicles are actually in service.
The number of unsupervised Robotaxis has actually declined recently, despite the company’s highly publicized expansion, according to data from Robotaxi Tracker. The site has tracked 32 active unsupervised Tesla Robotaxis in the last month and just 23 in the last week.
Tesla and Musk, who once threatened to take the company private at $420, have long been fans of sophomoric numerology. You can’t actually tip in the Robotaxi app, but as a joke the company suggests tips of $0.69 or $4.20 — and if you tap them, it brings up a “just kidding” graphic.
Freight stocks fall as Amazon announces less-than-truckload offering for outside businesses
Amazon is escalating its attack on legacy logistics companies by opening less-than-truckload (LTL) shipping to outside businesses as part of its Supply Chain Services business announced last month.
Previously, businesses could largely only use Amazon’s LTL fleet to send bulk goods inbound to Amazon’s own facilities. Now, companies can use Amazon to ship partial truckloads anywhere in the US, including to rival third-party warehouses or direct to their own retail partners.
That means legacy carriers must now compete against Amazon’s 80,000 trailers, 24,000 containers, and its highly automated network.
“The feedback from Amazon selling partners using our LTL service was clear: the technology, visibility, and reliability were exactly what they needed — and they wanted to use it more broadly,” Jim Ruiz, director of Amazon Freight, said in the press release.
Industry heavyweights like Old Dominion Freight, XPO, and Saia all fell on the news. FedEx, which recently spun off FedEx Freight, is also down.
That means legacy carriers must now compete against Amazon’s 80,000 trailers, 24,000 containers, and its highly automated network.
“The feedback from Amazon selling partners using our LTL service was clear: the technology, visibility, and reliability were exactly what they needed — and they wanted to use it more broadly,” Jim Ruiz, director of Amazon Freight, said in the press release.
Industry heavyweights like Old Dominion Freight, XPO, and Saia all fell on the news. FedEx, which recently spun off FedEx Freight, is also down.
Report: Google is backstopping Anthropic’s $35 billion data center deal
Google and Anthropic have always had close ties. The search giant invested early in the maker of Claude, which boosted Google’s investment returns last quarter.
But the two companies appear to be closer than we knew. According to a new report from Bloomberg, it turns out that Google is backstopping $35 billion worth of data center leases for Anthropic.
Last fall, Anthropic announced that was getting into the data center business, pledging $50 billion in a partnership with Fluidstack.
The revelation adds to concerns of so-called “circular deals,” which could lead to a domino-like collapse if one company fails.
Last fall, Anthropic announced that was getting into the data center business, pledging $50 billion in a partnership with Fluidstack.
The revelation adds to concerns of so-called “circular deals,” which could lead to a domino-like collapse if one company fails.
Amazon shatters record in Canada’s “maple bond” market
Amazon has set a record in the Canadian corporate bond market by issuing CA$14 billion ($10.04 billion) of Canadian dollar-denominated notes, according to a new Securities and Exchange Commission filing. The five-part deal officially eclipses the previous record of CA$8.5 billion established just last month by Alphabet.
This massive push comes as hyperscalers aggressively diversify funding to bankroll historic AI capital expenditure, a strategy mirrored by Alphabet’s parallel expansion into European debt markets to fuel its soaring infrastructure demands.
Apple wants to finally give smartphones a brain
Releasing the iOS 27 developer beta is a start, but Siri can’t rescue us from app overload until it can run the third-party apps we actually use.
OpenAI files confidentially for IPO
Today OpenAI announced it has filed confidentially with the SEC to go public. The company said in a blog post that it filed the draft S-1 form.
OpenAI’s filing comes a week after archrival Anthropic — now valued at $965 billion — also filed a confidential S-1 for its own public offering. Both IPOs are expected to be among the largest in US history.
In a press release, OpenAI wrote:
“We expect it to leak so we’re just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.”
In a press release, OpenAI wrote:
“We expect it to leak so we’re just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.”
The number of Tesla Robotaxis on the road has been going down
That’s the wrong direction for a business trying to scale its autonomous vehicles.
Intel shares soar on report of Google chip deal, possible future Nvidia business
Shares of Intel soared in early trading on a report that Google and Nvidia are considering turning to the chipmaker as a backup supplier to TSMC, as surging demand continues to outpace supply.
The Information reports that Google has placed an order with Intel to manufacture more than 3 million of its increasingly popular tensor processing unit chips in 2028.
According to the report, Nvidia is currently testing to see if Intel could manufacture its next-gen Feynman chips.
Taiwan-based TSMC has enjoyed a huge lead in the market of manufacturing advanced chips for Apple, Nvidia, and others.
Intel has been struggling to fight its way back into the AI chip business, but has made headway with the help of the Trump administration, which sought to shore American chipmaking with a $8.9 billion investment of taxpayer money, and several high-profile deals.
The Information reports that Google has placed an order with Intel to manufacture more than 3 million of its increasingly popular tensor processing unit chips in 2028.
According to the report, Nvidia is currently testing to see if Intel could manufacture its next-gen Feynman chips.
Taiwan-based TSMC has enjoyed a huge lead in the market of manufacturing advanced chips for Apple, Nvidia, and others.
Intel has been struggling to fight its way back into the AI chip business, but has made headway with the help of the Trump administration, which sought to shore American chipmaking with a $8.9 billion investment of taxpayer money, and several high-profile deals.
Corning surges after multibillion-dollar fiber-optic deal with Amazon
On Monday, Amazon announced a multiyear, multibillion-dollar deal to buy optical fiber from 175-year-old glassmaker Corning to power and connect its rapidly expanding US artificial intelligence data centers. Shares of Corning popped more than 9% on the news.
Corning said the investments would create 1,000 new, highly skilled jobs at Corning's manufacturing facilities in North Carolina.
This isn’t Corning’s first Big Tech rodeo. Last month the stock jumped when Nvidia invested $500 million in Corning warrants, and the stock ripped in January following a deal with Meta to provide fiber-optic cable connections for its AI data centers.
London’s robotaxi war is “months” away as Uber opens waitlist to battle Alphabet’s Waymo
Starting today, Uber users in London can join an in-app waitlist to be matched with a self-driving vehicle, with a commercial launch planned for the “coming months.” Riders who opt in could be picked up by a Ford Mustang Mach-E powered by UK-based AI startup Wayve. The rides will initially operate with a human safety driver and will cost the same as an UberX, Uber Electric, or Uber Comfort ride.
The move turns London into the next ground zero for a robotaxi showdown, pitting Uber against its US partner, Alphabet’s Waymo. While the two companies cooperate stateside — allowing users to hail Waymo rides via the Uber app in Phoenix, Austin, and Atlanta — they are locked in a turf war abroad. Uber is hedging its bets to own the future of ride-hailing, with more than 30 AV partnerships around the world and plans to roll out Wayve-powered robotaxis across 10 global markets.
Waymo, which is available in 11 US markets, is also aggressively pushing its own international expansion and has already deployed about 100 autonomous Jaguars for testing on London streets ahead of a planned commercial launch this year. With the UK fast-tracking its autonomous vehicle regulations, London is set to be the ultimate proving ground to see if Uber’s strategy of funding Waymo’s rivals can beat Alphabet’s in-house tech.
FT: Meta considering “tens of billions” in new capital to fund AI
Just days after Google announced a monster $85 billion upsized equity raise, the extremely profitable Meta is seeking to sell “tens of billions of dollars” in stock, according to a new report from the Financial Times.
Meta is planning on spending between $125 billion and $145 billion on AI capital expenditure this year alone.
Shares dropped more than 5% on the news.
