At 10:10 p.m. officials received a 911 call reporting the capsized boat.
The Oracle team's boat capsized in a practice session in San Francisco in October.
Dozens of people are missing after an overcrowded boat capsized off Bangladesh, officials say.
The boat capsized 14 nautical miles northwest of Christmas Island, often targeted by asylum seekers.
Officials said winds were blowing between 15 and 20 knots (17 to 23 mph) when the boat capsized.
At least 120 people are thought to have drowned after a passenger boat capsized on Lake Volta in Ghana .
When the Artemis boat capsized Thursday, the winds were 18 to 20 knots, a normal speed for this time of year.
Officials said their clothing suggested they were bodies of Muslim Rohingya missing since their boat capsized off the coast of western Burma on Monday.
Police spokesman Oliver Soko said a massive joint police and Malawi Lake Services rescue operation is underway around Chipoka Harbour where the overloaded boat capsized.
The boat capsized in Indonesian waters and the rescue efforts are being coordinated by Indonesia, which is a common staging point for refugees seeking to reach Australia.
WSJ: Boat Carrying Asylum Seekers Capsizes Off Christmas Island
David was a tough act to follow: A Harvard grad and international yachtsman, David has captivated the press with his marital and maritime adventures (including an ugly divorce from a Swedish countess in 2009 and a near-death experience in the 2011 Fastnet regatta, when his 100-foot racing boat capsized).
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Thursday's incident marks the second time a boat has capsized during practice for the 2013 race while attempting a bear-away.
Thursday's incident marks the second time a boat has capsized during practice for the 2013 race while attempting this maneuver.
Last week, a boat overloaded with passengers capsized off the coast of Djibouti , killing 73.
The recommendations come after Andrew Simpson, a British two-time Olympic medalist, died after the boat of Swedish team Artemis Racing capsized during a May 9 practice run.
"We are assuming these are the people from the boat from Pauktaw, Rakhine that capsized on Monday night because none of the locals here have reported anyone missing, " he said.
Elian's mother and 10 others drowned when the boat they were traveling on from Cuba capsized off the Florida shore.
Two people have been killed and two more were critically injured after a boat carrying at least 95 asylum seekers capsized off Australia.
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