Microsoft-backed (MSFT) OpenAI has inked a deal to buy $300B in computing power over roughly five years from Oracle (ORCL), the Wall Street Journal’s Berber Jin reports, citing people familiar with the matter. The deal is one of the biggest cloud contracts ever signed, the author notes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSFT:
- Microsoft Stock (NASDAQ:MSFT) Ticks Up With Another Batch of Layoffs
- MSFT, AMZN, GOOGL: Spending on Data Centers Hit Record $40 Billion in June
- Should You Still Buy Nebius Stock (NBIS) After Its Recent Rally? Top Analyst Says Yes
- Nebius says Microsoft contract ‘important implemental source of growth’
- Nebius price target raised to $125 from $75 at DA Davidson