Oracle recently signed a contract with a single provider worth $30 billion in annual revenue – could its be OpenAI?

OpenAI will lease 4.5 gigawatts of U.S. data center power from Oracle as part of its $500 billion Stargate initiative, according to CNBC. The unprecedented agreement underpins at least part of Oracle’s recently disclosed $30 billion cloud contract set to begin in fiscal 2028.

Stargate — OpenAI’s project with partners including Oracle and SoftBank Group Corp. to invest $500 billion in AI infrastructure — was first announced in January at the White House. So far, Oracle has developed a massive data center in Abilene, Texas, for OpenAI alongside development partner Crusoe.