Oracle | Crypto

Oracle did what every legacy tech giant dreams of. In September, it announced a $300 billion cloud deal wrapped around OpenAI, the hottest name in software, and watched its stock rip higher. Two months later, the market gave its verdict. Oracle has shed more than $300 billion in market value, trading below its pre-AI announcement […] The post Is AI eating crypto’s liquidity? Inside the $300B Oracle hit and Bitcoin miner pivots appeared first on CryptoSlate.

Oracle shares jump over 30% as a bold AI strategy, record cloud backlog, and massive contracts make Larry Ellison the world’s richest person.

OpenAI expands Stargate with Oracle to surpass 5 GW of AI power, while Elon Musk outlines plans for xAI to deploy 50 million H100-scale units in 5 years. OpenAI announced a 4.5 gigawatt (GW) expansion in partnership with Oracle to power future AI development. The deal, part of OpenAI’s long-term vision to deploy 10 gigawatts of compute capacity across the US, will add to its existing Stargate I facility in Abilene, Texas, and push the project beyond its original commitment made at the White House in January, the firm said on Tuesday. “This is a gigantic infrastructure project,” OpenAI CEO Sam Altman posted on X, sharing images of the Abilene site. In an earlier post, he confirmed that over one million GPUs will be online by year-end, and joked, “Now they better get to work figuring out how to 100x that.” Read more