Oracle Backs 1.7 GW of Texas Wind to Power AI Data Centers
ORCL sits 24% above its 52-week low of $114.5.
Summary
Oracle is investing in 10 wind projects in Texas that will deliver over 1.7 gigawatts of carbon-free electricity to the ERCOT grid, which powers its Abilene AI data center. The move directly addresses the company's surging power needs as it expands AI infrastructure, and it advances Oracle's goal of matching 100% of its Texas AI data center electricity use with carbon-free power by 2035. The projects, with suppliers including Clearway Energy, ENGIE, RWE, and Scout Clean Energy, are expected to avoid 1.8 million metric tons of CO2 annually. This follows Oracle's Q1 FY27 results showing 62% cloud growth and $28.5B in capex, underscoring the scale of its AI buildout. The investment signals a long-term commitment to securing renewable power for its data centers, which is critical given the company's heavy capital expenditures and negative free cash flow.
At the time of this announcement, ORCL was trading at $142.37 on NYSE in the Technology sector, with a market capitalization of approximately $430.5B. The 52-week trading range was $114.50 to $329.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.