OpenAI to spend $300 billion on Oracle cloud over five years: Report

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Oracle shares surged after market hours on Tuesday following its quarterly earnings, where the company reported signing several multi-billion-dollar contracts. Now, a report from The Wall Street Journal sheds light on one of those deals.

According to the WSJ, OpenAI has agreed to purchase $300 billion worth of compute power from Oracle over about five years, beginning in 2027. If confirmed, the agreement would mark one of the largest cloud contracts ever signed.

Oracle has been building its relationship with OpenAI since mid-2024, when the AI firm…



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OpenAI to spend $300 billion on Oracle cloud over five years: Report


Oracle shares surged after market hours on Tuesday following its quarterly earnings, where the company reported signing several multi-billion-dollar contracts. Now, a report from The Wall Street Journal sheds light on one of those deals.

According to the WSJ, OpenAI has agreed to purchase $300 billion worth of compute power from Oracle over about five years, beginning in 2027. If confirmed, the agreement would mark one of the largest cloud contracts ever signed.

Oracle has been building its relationship with OpenAI since mid-2024, when the AI firm…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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