00:00It's Benzinga bringing Wall Street to Main Street.
00:02Oracle and OpenAI abandoned plans to expand a flagship artificial intelligence data center
00:07in Abilene, Texas, after negotiations stalled over financing and OpenAI's changing needs,
00:13according to Reuters. The project is part of the Stargate initiative,
00:17a plan for up to $500 billion in investment and 10 gigawatts of capacity announced by Trump in
00:22January 2025. The proposed 600 megawatt expansion near the Abilene site will instead be fulfilled
00:29at another data center campus. The Abilene facility has eight buildings operated by Oracle Cloud
00:34Infrastructure, with two already running. OpenAI and Oracle still plan to develop another 4.5
00:40gigawatts of capacity. Meta is considering leasing the planned expansion site from Crusoe.
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