Breaking: Oracle CEO Magouyrk: 'Of course...
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OracleCEO Clay Magouyrk, one of the two peopletappedlast month to lead the software company, is confident that OpenAI will be able to cover the costs of the massive amount of cloud infrastructure services it consumes.
In an interview with CNBC's David Faber at Oracle's AI World conference on Monday, Magouyrk said "of course" OpenAI can pay $60 billion for a year's worth of cloud resources. In July, OpenAI agreed to a five-year deal with Oracle that's worthover $300 billion.
"Just look at the rate at which they've grown to, you know, almost a billion users. That's just unheard of," said Magouyrk, who sat alongside fellow Oracle CEO Mike Sicilia for the interview in Las Vegas.
Openai said last week that its flagship ChatGPT chatbot, which was publicly launched less than three years ago, now has 800 million weekly active users. In 2024, OpenAI recorded a$5 billionnet loss.
Sicilia said Oracle hasstarted integratingOpenAI artificial intelligence models into a patient portal for viewing electronic health records. Oracle acquired EHR vendorCernerfor about $28 billion in 2022.
"I've seen the results, and I really do think that they're going to have a dramatic impact on industries, on enterprises of all types," Sicilia said of Openai.
OpenAI rents outNvidiagraphics chips to run models through Oracle, as well asCoreWeave,GoogleandMicrosoft. At the same time, the company is designing a custom AI processor thatBroadcomwill build. Earlier on Monday, Broadcom and OpenAIsaidthey will jointly deploy 10 gigawatts worth of the new OpenAI chips.
Building out that much infrastructure requires a hefty amount of new energy.
"I think it's a factor of time, not a factor of if we'll have enough power," Sicilia said.
Oracle shares rose almost 6% on Monday. The stock has gained 86% this year, lifting Oracle's Market cap close to $900 billion.
WATCH:Oracle CEO Magouyrk: ‘Of course’ OpenAI can pay $60 billion per year
Source: Original financial news report
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