OpenAI agreed to pay Oracle $30B a year for data center services
9 months ago
- #Oracle
- #Data Centers
- #OpenAI
- OpenAI signed a $30 billion per year deal with Oracle for data center services.
- The deal involves 4.5 gigawatts of capacity as part of the Stargate project.
- Oracle's stock hit an all-time high following the deal announcement.
- OpenAI and Oracle will build a massive data center in Abilene, Texas.
- Oracle expects to spend nearly $50 billion on data centers over two years.
- OpenAI recently reported $10 billion in annual recurring revenue, up from $5.5 billion last year.