Announced by President Donald Trump in January 2025, Stargate is a $500 billion generative AI infrastructure venture in the US, led by OpenAI, Oracle, Japanese telecoms giant SoftBank, and MGX, an investment firm based in the United Arab Emirates. OpenAI intends to operate the data centres. Oracle will provide server infrastructure and leasing.

OpenAI will lease 4.5 gigawatts of U.S. data center power from Oracle as part of its $500 billion Stargate initiative, according to CNBC. The unprecedented agreement underpins at least part of Oracle’s recently disclosed $30 billion cloud contract set to begin in fiscal 2028.

OpenAI plans to rent additional data center capacity from Oracle (NYSE:ORCL) for the Stargate Project, according to Bloomberg. Oracle shares climbed 4% during late market action on Wednesday. If the gains hold,