Oracle rises on report of expansion of Stargate deal with OpenAI
ReutersJul 2, 2025 7:50 PM
Shares of cloud service provider Oracle ORCL.N rise 4% to $227.71
OpenAI to rent additional 4.5 gigawatts of data center capacity from Oracle - Bloomberg News
The move is part of OpenAI's Stargate initiative, a joint venture with Oracle and SoftBank, which plans to invest $500 billion in AI infrastructure in the United States over the next four years
To meet the additional demand from OpenAI, Oracle will develop multiple data centers across the United States with partners - Bloomberg
Up to last close, stock up 36.4% YTD
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