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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…
