OpenAI has confirmed it is the company behind a massive $30 billion-per-year data center services contract with Oracle, first disclosed in June. CEO Sam Altman acknowledged the deal in a post on X and in a company blog, though he did not confirm the exact dollar figure.
Oracle revealed the agreement in an SEC filing on June 30 but did not name the client or describe the scope of services. The disclosure sent Oracle shares to record highs, lifting founder Larry Ellison to the position of the world’s second-richest person, according to Bloomberg.
OpenAI said the deal covers 4.5 gigawatts of capacity as part of Stargate, a $500 billion data center construction initiative announced in January with Oracle and SoftBank. SoftBank is not involved in this particular contract.
Altman also recently noted that OpenAI’s annual recurring revenue has reached $10 billion, up from $5.5 billion last year — meaning the Oracle commitment is triple its current annual revenue and excludes other major infrastructure costs
