Oracle rises 6%: OpenAI reaches $70 billion revenue run-rate - the $300 billion bet suddenly seems plausible

According to Axios, OpenAI's annualized recurring revenue is nearing $70 billion and has increased by around 70% since the beginning of the third quarter. The B2B business has doubled. Oracle is set to provide OpenAI with computing power worth $300 billion over approximately five years. This equates to an average of about $60 billion per year. Oracle now has $664 billion in Remaining Performance Obligations. Revenue from Oracle Cloud Infrastructure surged by 121% in the latest quarter to $7.4 billion.   OpenAI approaches $70 billion...