OpenAI has confirmed its role in Oracle’s massive $30 billion-a-year cloud services deal, as first reported by The Wall Street Journal. CEO Sam Altman acknowledged the agreement Tuesday via X and a blog post but did not confirm the dollar amount.
The contract was disclosed in an SEC filing on June 30 without naming the client, causing Oracle’s shares to reach all-time highs and elevating founder Larry Ellison’s wealth ranking.
OpenAI stated the deal involves 4.5 gigawatts of data center capacity for Stargate, a $500 billion initiative with Oracle and SoftBank. SoftBank is not involved in this specific agreement.
Altman noted that OpenAI’s recurring revenue has climbed to $10 billion annually, making the Oracle deal several times larger in yearly value.
