OpenAI was the company that signed a $30 billion per year deal with Oracle for data center services, disclosed last month, The Wall Street Journal reported on Monday. Now, OpenAI CEO Sam Altman has confirmed the details of the contract (but not the dollar amount) in an X post on Tuesday and in a company blog post.

The deal is part of Stargate, a $500 billion project launched by OpenAI, Oracle, and SoftBank earlier this year.

OpenAI confirms a $30B per year deal with Oracle to power the massive Stargate AI infrastructure project. Read more!

Larry Ellison, co-founder and chief technology officer of Oracle (ORCL), has become the world’s second-richest person, surpassing Meta’s Mark Zuckerberg, following a sharp rally in Oracle shares that significantly boosted his net worth.

OpenAI has disclosed they signed a 30 billion dollar annual deal with Oracle for their data centre services last month, according to reports. Sam Altman, OpenAI’s CEO, has also confirmed the contract in an X post, without divulging much details, on July 22. The same was also shared as a blog post on their website.

The tech founder was worth US$251.2 billion (S$322.5 billion) as of July 15. Read more at straitstimes.com. Read more at straitstimes.com.