CoreWeave and Bloom Energy Stocks Decline Amid Oracle-OpenAI Data Center Project Uncertainty

Shares of CoreWeave and Bloom Energy experienced a downturn following reports that Oracle and OpenAI have paused expansion plans for a large artificial intelligence data center in Abilene, Texas. The setback stems from stalled financing negotiations and a reassessment of OpenAI’s AI capacity requirements, introducing volatility into the AI infrastructure sector.

Project Stalled Due to Financing and Reliability Concerns

According to reports from TipRanks, Bloomberg and OpenTools.ai, Oracle and OpenAI have halted plans to expand their Stargate data center project in Abilene, Texas. The pause is attributed to difficulties in securing financing and concerns regarding the reliability of the infrastructure, including issues arising from winter-related outages.

Impact on CoreWeave and Bloom Energy

The news triggered a decline in the stock prices of both CoreWeave and Bloom Energy. Bloom Energy fell 15% to close at $135.19, while CoreWeave declined 2.5% to $72.99 by the complete of Friday’s session, as reported by TipRanks. Investors are particularly sensitive to the financial health of companies like CoreWeave, which carries a significant debt load and a B+ credit rating.

OpenAI’s Broader Infrastructure Strategy

Despite the pause in the Abilene expansion, Oracle’s core agreements with OpenAI remain intact, and the 4.5 gigawatt deal is proceeding as planned. OpenAI is diversifying its AI infrastructure portfolio, with CoreWeave playing an increasingly important role. CoreWeave announced in March 2025 a deal to deliver AI infrastructure to OpenAI, valued at up to $11.9 billion, with OpenAI also becoming an investor in CoreWeave through a $350 million stock issuance.

Stargate Expansion Continues with Modern Sites

OpenAI, Oracle, and SoftBank are continuing to expand the Stargate platform with five new U.S. AI data center sites, bringing the total planned capacity to nearly 7 gigawatts. This expansion, alongside ongoing projects with CoreWeave, demonstrates OpenAI’s commitment to scaling its AI infrastructure. OpenAI announced the five new sites in March 2026.

Key Takeaways

• Oracle and OpenAI have paused expansion plans for their Abilene, Texas data center due to financing challenges and reliability concerns.
• The news negatively impacted the stock prices of CoreWeave and Bloom Energy.
• OpenAI is diversifying its AI infrastructure through partnerships with companies like CoreWeave and the Stargate project.
• The Stargate platform is expanding with five new data center sites, increasing planned capacity to nearly 7 gigawatts.