Oracle has signed up a cloud customer to spend more than $30 billion a year from FY28.

The deal, revealed in a regulatory filing, could be the largest cloud contract in history, but the filing does not disclose which company is behind it.

Update: OpenAI has been confirmed as the company behind the deal.

Oracle founder Larry Ellison said in March that he expected the company to sign its first contract with OpenAI and SoftBank’s $500bn Stargate data center project “fairly soon,” with generative AI company OpenAI one of the only entities large enough to fund such an ambitious cloud deal.

At the same time, Oracle is itself an investor in Stargate - and is working on Stargate's first campus in Abilene. We profiled Stargate in the latest issue of the DCD Magazine, out now.

Back in June, reports emerged that Oracle was looking for up to 5GW of data center capacity to support OpenAI’s workloads, which seemed to be separate from the Stargate project.

In the latest filing, Oracle CEO Safra Catz said that the company was already “off to a strong start” for fiscal year 2026, having already signed “multiple large cloud service agreements."

Last month, Oracle announced a "gigantic contract" from Chinese ecommerce company Temu. It has also signed a hybrid cloud deal with IBM.

Up until the generative AI surge, which saw rival Microsoft use Oracle data centers, one of Oracle's largest cloud customers was TikTok. The Chinese social media platform moved to Oracle during US President Donald Trump's first term in office when the president threatened to ban the video platform.

Trump this week said that the US government has found a buyer for TikTok's American operation, the identity of which he will reveal "in about two weeks," adding that it was "a group of very wealthy people."

Oracle was previously set to team up with Walmart to buy the US operations, beating off competition from Microsoft. This time, Oracle, Microsoft, the YouTuber MrBeast, Perplexity, and others are believed to be in the running.