Oracle (ORCL) is in discussions with Meta (META) for a cloud computing agreement worth roughly $20B, Bloomberg’s Brody Ford and Kurt Wagner report. Under the multiyear pact, Oracle would provide the Facebook parent with computing power for training and deploying AI models, the authors say, citing people familiar with the talks. The total dollar amount may increase and other terms could still change before a final deal is struck, the authors note.
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 ORCL:
- Oracle in talks with Meta for $20B cloud computing deal, Bloomberg says
- Sector Spotlight: President Trump says TikTok deal has China’s approval
- Now Streaming: ‘Jimmy Kimmel Live!’ pulled by ABC after FCC pressure
- Moderately bullish activity in Oracle with shares up 1.7%
- Trump says he, China’s Xi made progress on TikTok, trade