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The Economic Times

Business

Debaroti Adhikary

OFSS shares tumble 5% after Oracle sends 'force majeure' notice for data centre project. Are AI worries coming true?

Oracle OFSS FT Blue Owl NSE Oracle Financial Services Software Debaroti Adhikary New Mexico SEBI

The shares of Oracle Financial Services Software (OFSS) tumbled more than 5% on Friday after its US-based parent Oracle sent a 'force majeure' notice to developer Blue Owl to protect itself from potential delays at a massive data centre project in New Mexico, triggering worries through the trillion-dollar market for AI infrastructure financing.

OFSS shares tumbled more than 5% to trade at Rs 10,332 apiece on NSE, marking the lowest level seen by the stock in more than nine weeks since July 23. It is currently the top loser on the Nifty IT index, which itself is down around 1%.

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