(Reuters) -Oracle is in talks with Meta for a multi-year cloud computing deal worth nearly $20 billion, Bloomberg News reported on Friday, citing people with knowledge of the matter.
Oracle would provide the social media giant with computing power for training and deploying AI models, the report said, adding that the total deal amount may rise and the terms could still change.
Both Meta and Oracle did not immediately respond to Reuters’ requests for comment.
The potential deal comes just a week after a Wall Street Journal report on OpenAI signing a contract to purchase $300 billion in computing power over roughly five years from Oracle, marking one of the biggest cloud contracts ever signed.
Oracle unveiled four multi-billion-dollar contracts last week, amid an industry-wide shift, led by companies such as OpenAI and xAI, to aggressively spend to secure the massive computing capacity needed to stay ahead in the AI race.
The enterprise software maker said it expects to sign up several additional multi-billion-dollar customers in the next few months, and that booked revenue at its Oracle Cloud Infrastructure business would exceed half a trillion dollars.
(Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi and Shinjini Ganguli)
