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.

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

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.

Investors were so fired up about Oracle's AI guidance that they sent shares soaring as much as 43% that day. The company was briefly more valuable than JPMorgan. Larry Ellison overtook Elon Musk as the world's richest person — for a couple of hours at least.

The markets are growing concerned with the IT company's ability to finance data center build-outs and its partnership with OpenAI.

Michigan regulators unanimously approved a request from utility DTE Energy Co. to power a massive data center development planned by Oracle and OpenAI, during a contentious hearing where some members of the public pushed back on the project.

Oracle (ORCL) stock had a volatile 2025, recently seeing a sharp sell-off from record highs. Despite Oracle's turbulence, Guggenheim Securities senior research analyst and senior managing director of software,