Oracle is negotiating a $20 billion cloud computing deal with Meta, aiming to enhance the social media giant’s access to computing power for AI models. Meta has not commented, while Oracle offers diverse cloud technologies and deployment options. This follows OpenAI’s $300 billion Oracle contract and increased revenue from collaborations with Amazon, Alphabet, and Microsoft.

In the midst of a competitive industry push for advanced computing power, Oracle has secured multi-billion-dollar contracts with various companies, including OpenAI and xAI, to support AI innovation. The company anticipates additional large customers in the near future, with an expected revenue exceeding half a trillion dollars from its OCI business.

Read more at Yahoo Finance: Oracle eyes $20 billion AI cloud computing deal with Meta, source says