OpenAI has identified itself as the customer in a $30 billion-per-year Oracle cloud deal revealed last month. CEO Sam Altman confirmed the partnership in a post on X and via the company’s blog on Tuesday, though he declined to state the contract value.
The arrangement was first disclosed in a June 30 SEC filing, which detailed the revenue figure but left the client unnamed. The announcement pushed Oracle stock to an all-time high and boosted founder Larry Ellison’s net worth significantly.
The agreement secures 4.5 gigawatts of capacity for Stargate, a $500 billion data center project involving OpenAI, Oracle, and SoftBank. This particular deal does not include SoftBank’s participation.
Altman also said OpenAI’s annual recurring revenue has doubled in the past year to $10 billion, highlighting the scale of the Oracle contract relative to the company’s overall business.
