OpenAI bets $300 billion on Oracle contract to power artificial intelligence expansion despite ongoing losses

OpenAI has signed a massive $300 billion contract with Oracle for computing power starting in 2027, representing one of the largest cloud deals ever. The agreement sent Oracle shares surging over 40%, making Chairman Larry Ellison the world's richest person, but carries significant risks as OpenAI continues to operate at a loss while Oracle will need to take on substantial debt to deliver the promised 4.5 gigawatts of power capacity.