OpenAI bets $300 billion on Oracle contract to power artificial intelligence expansion despite ongoing losses

Sam Altman of OpenAI.

• OpenAI signs $300 billion Oracle contract starting in 2027 to expand AI capacity
• Oracle shares jump over 40 percent after reporting $317 billion in future revenue
• Deal raises risks as OpenAI loses money and Oracle takes on heavy debt

OpenAI has signed a contract with Oracle to buy $300 billion worth of computing power over the next five years, according to the Wall Street Journal.