According to online reports, according to people familiar with the matter, OpenAI has signed an agreement to purchase US$300 billion worth of computing power from Oracle (ORCL.N) in about five years, a huge promise far exceeding its current revenue level. The deal is one of the largest cloud services contracts in history and reflects the continued climb to new highs in AI data center spending despite growing concerns about a possible bubble in the artificial intelligence space. The contract would require 4.5 gigawatts of power capacity, roughly equivalent to the power generation of more than two Hoover dams, or the electricity consumption of about four million households. After Oracle disclosed on Wednesday that it added $317 billion in future contract revenue for its latest fiscal quarter ended August 31, its share price surged 42% on the day, but now its gain narrowed to 36%. CEO Safra Catz said the company signed contracts with three different customers during the quarter.