Oracle and Meta: Cloud Giants in Billion-Dollar Deal

Oracle and Meta are on the verge of a multibillion-dollar cloud computing agreement that could amount to nearly 20 billion US dollars. According to information from Bloomberg News, the two companies are negotiating a multi-year contract that will provide Meta with the necessary computing power for training and deploying AI models. The total amount could even increase, and the contract terms have not yet been finalized. This potential partnership comes just a week after a Wall Street Journal report stating that OpenAI signed a 300 billion US dollars contract to procure computing capacity over about five years with Oracle. This agreement represents one of the largest cloud contracts of all time. Oracle unveiled four more multibillion-dollar contracts last week. This shows how the industry is increasingly focusing on investing significantly in computing capacities to gain an edge in the competition for artificial intelligence. The software giant expects to acquire more multi-billion-dollar customers in the coming months and anticipates that the booked revenues of its Oracle Cloud Infrastructure will rise to over half a trillion US dollars.