OpenAI plans to spend about $300-billion with Oracle, building artificial intelligence data centres to deliver artificial intelligence.
This was revealed yesterday by the Wall Street Journal, following the release of Oracle’s financial results.
The deal is expected to kick off in 2027, and is part of the Project Stargate initiative announced in January.
In terms of this initiative, OpenAI, Oracle, SoftBank and MGX have agreed to invest about $500-billion into new AI infrastructure over the next four years.
Construction is already underway on data centres in Texas, with other locations also planned.
After announcing its results, and news that it has signed about $317-billion in new contract revenue, Oracle’s share grew about 40% – briefly putting CEO and president Larry Ellison ahead of Elon Musk as the world’s richest man.