Oracle’s shares surged after market hours on reports that the company has secured multi-billion-dollar contracts with several customers, including a historic agreement with OpenAI.
According to the Wall Street Journal, OpenAI has committed to purchase $300 billion worth of compute power from Oracle over the next five years, starting in 2027. If accurate, this would mark one of the largest cloud contracts ever signed. Oracle declined to comment on the report, while OpenAI has not issued a response.
OpenAI already began working with Oracle in mid-2024, moving some of its workloads away from exclusive reliance on Microsoft Azure. In January 2025, the company expanded further, diversifying its cloud providers to ensure scale and resilience.
The reported deal aligns with OpenAI’s broader infrastructure strategy, including its participation in the Stargate Project. That initiative, backed by OpenAI, Oracle, and SoftBank, involves a $500 billion investment in domestic data centres over four years.
Demand for compute resources has escalated sharply as OpenAI continues to train and deploy advanced AI models. Earlier this year, Reuters reported that the company also struck a cloud deal with Google, despite their rivalry in artificial intelligence.
If confirmed, the Oracle contract underscores just how aggressively OpenAI is securing capacity to fuel its next wave of AI breakthroughs.
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