If you’re an Oracle bull this wasn’t your week.

Fresh off a ~$70 billion rout the prior session, Oracle’s shares were on track for another meaningful loss on Friday when AI sentiment was waylaid again by what impatient investors deemed an unpalatably ambiguous outlook from Broadcom.

Insult to injury for Oracle was a report that worker and materials shortages may mean delays for the data centers it’s building for OpenAI. Some of the facilities scheduled for 2027 won’t be finished until 2028, people familiar with the work told Bloomberg.

The figure above gives you a sense of the drawdown following the historic rally which crescendoed in a 36% single-session gain following earnings in September.

If you’re keeping score at home, the selloff from the September highs — more than 40% — equates to almost $400 billion in lost market cap.

Through noon on Friday, this was on track to be the worst week for Oracle since 2018 and the second-worst since the financial crisis.

Broadcom’s 10% one-day loss was the most pronounced since “Liberation Day.”

“Oracle’s post-earnings decline sent the message: ‘If you build it they will come’ is not a business model,” JonesTrading’s Mike O’Rourke, who isn’t famous for sugarcoating, remarked.

He’s right, of course, but Bloomberg’s Friday reporting suggests Oracle’s having problems building it in the first place. While it’s true they won’t show up just because you built it, if you don’t (or can’t) build it, there won’t be anything there for them if they do show up.

Sorry, Oracle. The jokes really do just write themselves. Including this one: That’s ok, Sam Altman probably needs the extra year to come up with the rent money anyway.

Later, in a statement, Oracle denied Bloomberg’s reporting. “There have been no delays to any sites required to meet our contractual commitments, and all milestones remain on track,” a spokesperson said.