Oracle is in discussions with Meta for a multi-year cloud computing deal valued at around $20 billion, aimed at bolstering Meta’s artificial intelligence capabilities. This agreement would enhance Meta’s existing cloud infrastructure by supplementing its current providers. Recent reports revealed that Oracle has also secured a $300 billion contract with OpenAI to provide computing power over five years, marking one of the largest cloud agreements in history. Oracle is strategically aligning itself with AI companies, having struck deals with tech giants like Amazon, Alphabet, and Microsoft, enabling their customers to run Oracle Cloud Infrastructure (OCI) seamlessly. This approach has led to a significant revenue increase, with OCI projected to exceed half a trillion dollars in booked revenue. Additionally, Oracle’s founder Larry Ellison experienced a remarkable surge in wealth, overtaking Elon Musk as the world’s richest person. Oracle’s aggressive pursuit of cloud deals is positioning it as a leader in the AI-driven computing landscape.
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