According to reports, OpenAI and Oracle have signed a historic cloud computing protocol

Oracle's stock price soared after the market closed after reports that it signed a multibillion-dollar contract with OpenAI. The Wall Street Journal disclosed that Oracle and OpenAI have signed a five-year, $300 billion computing agreement that will take effect in 2027. If proven, this would be one of the largest cloud contracts ever. OpenAI started using Oracle in mid-2024 and is currently expanding its business scope and no longer limited to Microsoft Azure, which echoes its participation in the $500 billion Stargate project with SoftBank and Oracle. Despite the fierce competition, OpenAI also recently signed a cloud agreement with Google.