Oracle signed an agreement with OpenAi to provide $ 300 billion in cloud computing capacity over five years, from 2027. The newspaper information is from the newspaper. Wall Street Journal.
The news arrives on the same day when Oracle shares fired 42%after the company revealed that it added $ 317 billion in future contract revenue in the quarter ended August 31.
The jump in market value raised the fortune of co-founder and President Larry Ellison by over $ 100 billion, bringing him closer to Elon Musk in the dispute for the richest man in the world, with estimated assets of nearly $ 400 billion.
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The contract, one of the largest signed in the sector, provides 4.5 gigawatts of capacity – equivalent to energy consumed by about four million homes.
OpenAi, which registered annual revenue of about $ 10 billion, will have to pay an average of US $ 60 billion per year – six times higher than its current revenues.
Oracle will focus a relevant slice of its future revenue from a single client and may need to contract debts to purchase artificial intelligence chips and expand their data centers.
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The partnership arises amid OpenAi attempt to reduce the scarcity of computational capacity that limits the advancement of its AI models and the launch of new products.
Startup, which until recently depended exclusively on Microsoft for infrastructure, has obtained authorization to seek new suppliers and considers the contract with Oracle part of its Stargate Data Centers project.
