Oracle and Meta Negotiate $20 billion AI Cloud Computing Partnership

Oracle Inc. (ORCL. N) is in talks with Meta Platforms (META. O) about a cloud computing deal worth about $20 billion, in a further sign of Oracle's emergence as a significant infrastructure provider. Under the multi-year agreement, Oracle will provide the social media giant with computing power for training and deploying artificial intelligence models, according to people familiar with the matter. The total commitment amount is likely to increase, and other deal terms could change before a final agreement is reached, the sources said. The contract would add to Oracle's cloud infrastructure business. Last week, the company reported a significant increase in bookings, sending shares to record highs.