Organisation · company · US

Oracle

Repositioned its enterprise-cloud arm (OCI) as a major supplier of AI compute, signing a reported ~$300bn deal with OpenAI and taking a central role in the Stargate data-centre project.

10 entries · March 2025 – September 2026

Oracle is one of the oldest enterprise-software companies, founded in 1977 and long dominant in corporate databases, but in the AI era it has repositioned itself as a major cloud-infrastructure provider. Its clearest move was a cloud-computing agreement with OpenAI reported at roughly $300 billion over about five years — the single largest line item in OpenAI's rapidly growing set of compute commitments — and a central role in the Stargate data-centre project. The scale of those contracts sent Oracle's share price sharply higher and its founder Larry Ellison briefly to the top of the world's wealth rankings, but also drew scrutiny over how much of the promised revenue depended on a small number of AI customers that had yet to prove they could pay for it.

Category
Big tech & backers
Founded
1977
HQ
Austin, US
Funding
~$420bn market cap (2026); public (NYSE: ORCL)
Key people
Clay Magouyrk, Mike Sicilia, Larry Ellison

Appears alongside

Featured in threads

Tracks

  • Compute & infrastructure 10
  • Money & business 5

  1. Oracle declares force majeure on a New Mexico Stargate site

    Gas-pipeline permit denials pushed the 2.45-gigawatt Project Jupiter campus off its 2028 target; both Oracle and its financing partner said the underlying spending commitments stand.

    OpenAICompute & infrastructure

  2. Wall Street Journal analysis finds $3 trillion in off-balance-sheet AI commitments

    The total is about five times the roughly $600bn the same nine companies reported in capital expenditure over the trailing twelve months, the Journal found.

    Amazon, NVIDIAMoney & business · Compute & infrastructure

  3. OpenAI opens Stargate's Michigan data centre

    OpenAI and Oracle broke ground on a 1-gigawatt campus in Saline Township, with Michigan's governor citing $1bn in projected tax revenue and 2,500-plus construction jobs.

    OpenAICompute & infrastructure

  4. Oracle and OpenAI scrap planned Abilene, Texas data-centre expansion

    The companies capped their Abilene campus at 1.2 gigawatts rather than the 2.0GW originally planned, citing power-grid interconnection delays exceeding a year; a wider 4.5GW multi-site deal stayed in force.

    OpenAICompute & infrastructure

  5. The AI bubble argument goes mainstream

    Michael Burry's public wager against AI infrastructure spending and a record $61 billion of data-centre dealmaking pushed 'circular deals' and depreciation accounting into mainstream financial coverage.

    NVIDIA, OpenAIMoney & business · Compute & infrastructure

  6. OpenAI expands Stargate to Michigan, pushing project past 8GW and $450bn

    The Saline Township campus, built with Oracle, was described as Michigan's largest single investment on record and is due to break ground in early 2026.

    OpenAICompute & infrastructure

  7. OpenAI, Oracle and SoftBank expand Stargate with five new US data centre sites

    Three Oracle-led campuses and two SoftBank-led sites in Ohio, Texas and New Mexico put the January 2025 pledge of 10 gigawatts within reach by year end.

    OpenAI, SoftBankCompute & infrastructure

  8. OpenAI signs reported $300bn cloud deal with Oracle

    Neither company confirmed the figure publicly; it was reported via the Wall Street Journal days after Oracle's stock jumped on disclosure of $317bn in future contracted revenue.

    OpenAICompute & infrastructure · Money & business

  9. OpenAI and Oracle expand Stargate with 4.5 additional gigawatts

    The deal brings Stargate's contracted US capacity past 5 gigawatts and over 2 million chips, ahead of the four-year, 10-gigawatt pace OpenAI set in January.

    OpenAICompute & infrastructure · Money & business

  10. SoftBank agrees to acquire Ampere Computing for $6.5bn

    SoftBank's all-cash deal for the Arm-based server-chip maker gave Oracle and Carlyle an exit and deepened SoftBank's push into AI silicon alongside its Arm and Graphcore holdings.

    SoftBankCompute & infrastructure · Money & business

In the commentary

Pieces from around the web that discuss Oracle. External links.

Also mentioned in 15 entries

Referenced in passing — Oracle isn't the main subject of these.