ORCL Jun 2024 62.500 call
- Investor's Business Daily
Oracle Stock Jumps On Report of $10 Billion Cloud Deal With Musk's AI Startup
Elon Musk's startup xAI is in talks with Oracle on a $10 billion cloud-computing deal, according to The Information.
- Bloomberg
Oracle Jumps on Report of $10 Billion Cloud Deal With Musk’s xAI
(Bloomberg) -- Oracle Corp. gained as much as 5.3% after the Information reported the company is close to a deal for a $10 billion cloud contract with Elon Musk’s artificial intelligence startup xAI.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindBiden Accuses China of ‘Cheating’ on Trade, Imposes New TariffsFlood of China Used Cooking Oil Spurs Call to Hike US LeviesMacron Puts French Banks in Play With Plan to Transform EuropeFive Under-the-Radar Billionaire
- Reuters
UPDATE 2-Elon Musk's xAI nears $10 bln deal to rent Oracle's AI servers, The Information reports
Elon Musk's artificial intelligence startup xAI has been talking to Oracle executives about spending $10 billion to rent cloud servers from the company over a period of years, The Information reported on Tuesday, citing a person involved in the talks. The deal would make xAI one of Oracle's largest customers, the report said, as Musk looks to raise funds for xAI in an attempt to rival the AI offerings of OpenAI and Google . XAI was reportedly in talks to raise $3 billion in a round last month, which would have valued the company at $18 billion.
