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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