{"entity":{"id":"oracle","name":"Oracle","short":"Oracle","kind":"public","ticker":"ORCL","note":"Fiscal 2026 (to 2026-05-31): remaining performance obligations $638B, free cash flow -$23.7B. Plans $45-50B of financing in calendar 2026. S&P cut its rating to BBB- on 2026-07-09, citing OpenAI concentration (about half of the backlog)."},"outEdges":[{"id":"e3d9309f32a5","from":"oracle","to":"nvidia","type":"chip_supply","amountUsdB":40,"amountNote":"Reported (FT): ~400,000 GB200 chips for the 1.2 GW Abilene Stargate site leased to OpenAI for 15 years.","announced":"2025-05-23","status":"reported","source":"https://www.datacenterdynamics.com/en/news/oracle-to-spend-40bn-on-nvidia-chips-for-openai-texas-data-center/","sourceLabel":"DCD, citing Financial Times","confidence":"medium"},{"id":"124a711bef3f","from":"oracle","to":"crusoe","type":"compute_contract","amountNote":"Oracle is the tenant of Crusoe's 1.2 GW Abilene campus, sub-leased to OpenAI; lease value undisclosed. A planned ~600 MW expansion was dropped in March 2026 after financing talks stalled; Meta was reported in talks for the space.","announced":"2025-05-21","status":"partial","source":"https://www.crusoe.ai/resources/newsroom/crusoe-blue-owl-capital-and-primary-digital-infrastructure-enter-joint-venture","sourceLabel":"Crusoe newsroom","altSource":"https://www.datacenterdynamics.com/en/news/oracleopenai-drop-plans-to-expand-flagship-abilene-stargate-site-meta-in-talks-to-pick-up-crusoe-capacity-with-nvidias-help/","confidence":"medium"},{"id":"579489d1e70f","from":"oracle","to":"stargate","type":"equity_investment","amountUsdB":7,"amountNote":"Reported (The Information).","announced":"2025-01-21","status":"reported","source":"https://www.datacenterdynamics.com/en/news/openai-and-softbank-to-both-invest-19bn-in-stargate-report/","sourceLabel":"DCD, citing The Information","confidence":"medium"}],"inEdges":[{"id":"bf5a91ef83ff","from":"openai","to":"oracle","type":"compute_contract","amountUsdB":300,"amountNote":"Reported by the WSJ (five years from 2027, about 4.5 GW); neither company has confirmed the figure. S&P says OpenAI is about half of Oracle's $638B backlog. A planned ~600 MW expansion of the Abilene site was dropped in March 2026.","announced":"2025-09-10","status":"reported","source":"https://www.datacenterdynamics.com/en/news/openai-signs-300bn-cloud-deal-with-oracle-report/","sourceLabel":"DCD, citing WSJ","altSource":"https://www.datacenterdynamics.com/en/news/oracleopenai-drop-plans-to-expand-flagship-abilene-stargate-site-meta-in-talks-to-pick-up-crusoe-capacity-with-nvidias-help/","confidence":"medium"},{"id":"b414ebfe4882","from":"meta","to":"oracle","type":"compute_contract","amountUsdB":20,"amountNote":"Reported (~$20B, multiyear) by Bloomberg 2025-09-19; Oracle confirmed a Meta cloud deal on 2025-10-16 without disclosing value. Oracle's Feb 2026 financing release lists Meta among contracted customers.","announced":"2025-09-19","status":"reported","source":"https://news.bloomberglaw.com/artificial-intelligence/oracle-in-talks-with-meta-on-20-billion-ai-cloud-computing-deal","sourceLabel":"Bloomberg","altSource":"https://www.cnbc.com/2025/10/16/oracle-confirms-meta-cloud-deal-.html","confidence":"medium"},{"id":"685e01b062c8","from":"capital_markets","to":"oracle","type":"debt","amountUsdB":50,"amountNote":"Plan: $45-50B of gross proceeds in calendar 2026 - about half a one-time investment-grade bond issue, half equity and equity-linked (mandatory convertible preferred plus an at-the-market programme of up to $20B). Fiscal 2026 free cash flow was -$23.7B; S&P cut Oracle to BBB- in July 2026.","announced":"2026-02-01","status":"partial","source":"https://www.oracle.com/news/announcement/oracle-announces-equity-and-debt-financing-plan-2026-02-01/","sourceLabel":"Oracle press release","altSource":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526032650/d36096dfwp.htm","confidence":"high"}],"outUsdB":47,"inUsdB":370,"partners":[{"id":"openai","name":"OpenAI","outUsdB":0,"inUsdB":300,"deals":1,"circular":false},{"id":"capital_markets","name":"Bond, loan & private-credit markets","outUsdB":0,"inUsdB":50,"deals":1,"circular":false},{"id":"nvidia","name":"NVIDIA","outUsdB":40,"inUsdB":0,"deals":1,"circular":false},{"id":"meta","name":"Meta Platforms","outUsdB":0,"inUsdB":20,"deals":1,"circular":false},{"id":"stargate","name":"Stargate JV (OpenAI, SoftBank, Oracle, MGX)","outUsdB":7,"inUsdB":0,"deals":1,"circular":false},{"id":"crusoe","name":"Crusoe","outUsdB":0,"inUsdB":0,"deals":1,"circular":false}],"circularPairs":[]}