OpenAI will lease 4.5 GW of data-center capacity from Oracle (NYSE:ORCL), fueling its massive Stargate AI infrastructure buildout across the U.S. and boosting Oracle shares to record highs. Bloomberg reports that OpenAIbacked by Microsoft (MSFT) and SoftBank (SFTBY)has struck a deal with Oracle to rent 4.

Oracle's (NYSE:ORCL) expanded role in the Stargate Project reinforces BNP Paribas Exane's belief that hyperscalers remain of the best ways for investors to take advantage of the rapid rise of artificial intelligence.

Oracle ORCL stock jumped late Wednesday after Bloomberg reported that the tech giant will expand its massive Stargate data center project with OpenAI. The news comes two days after Oracle disclosed that it had landed a cloud services deal it expects will be worth more than $30 billion annually starting in 2028, igniting a rally for Oracle shares.