Turns out OpenAI is the customer behind Oracle's mysterious $30 billion cloud deal

OpenAI has emerged as the company behind a $30 billion cloud deal with Oracle following several days of speculation.

According to reports from Bloomberg, the landmark deal will see OpenAI rent 4.5GW of capacity from Oracle in an expansion to the Project Stargate scheme.

Stargate is a joint venture backed by the US government to build out AI data center capacity across the United States, as well as other international locations.

Unveiled in January, the scheme includes support from SoftBank and aims to invest $500 billion in AI infrastructure over the next four years.

As part of the recently-confirmed deal, Oracle will take the lead on the development of a series of data centers across the country, Bloomberg noted.

This will include an extension to the company’s existing data center campus in Abilene, Texas, taking the site from 1.2GW to 2GW.

Separate reports from the Financial Times also point to development projects in a raft of other states, with Michigan, Wyoming, Georgia, Ohio, and Pennsylvania all touted as possible locations.

OpenAI confirmation follows days of speculation

The reports bring to a close several days of speculation over a mystery customer Oracle had secured.

Earlier this week, the cloud computing giant revealed it had signed a landmark deal worth $30 billion in annual revenue, commencing from 2028 onward - yet the customer in question wasn’t named.

The announcement from Oracle, detailed in its Q4 2025 earnings statement, sparked conflicting reports, with some touting OpenAI alongside social media giant TikTok.

“Oracle is off to a strong start in fiscal year 2026,” said CEO Safra Catz in an SEC filing on Monday.

“Our multi-cloud database revenue continues to grow at over 100 percent, and we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in fiscal year 2028.”

For context, $30 billion in annual revenue for the firm’s database segment is double the current size of its cloud business, which stood at $24.4 billion in revenue for the fiscal year.

Larry Ellison, chairman and CTO of Oracle, fueled further speculation during an earnings call where he said the customer “could be in Europe, could be in Asia”.

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