OPENAI AGREED TO PAY ORACLE $30B A YEAR FOR DATA CENTER SERVICES

Summary from the TLDR newsletter

Oracle disclosed in an SEC filing last month that it had signed a cloud deal that would generate $30 billion a year in revenue. The company that signed that deal has been revealed to be OpenAI. Oracle collectively sold $24.5 billion worth of cloud services in its fiscal 2025 to all customers combined. OpenAI and Oracle still have to build the data center, which will be a costly endeavor.