Oracle Stock Soars as OpenAI Business Sales Double
San Francisco, Tuesday, 29 September 2026.
OpenAI’s annualized revenue surged to nearly $70 billion, driven by business sales doubling since July. The rapid growth triggered a 7% rally in cloud partner Oracle’s stock.
Enterprise Revenue Surge
OpenAI’s annualized revenue run rate has approached $70 billion, marking a significant milestone just as the company prepares for its annual DevDay conference in San Francisco on Tuesday, 29 September 2026 [1][2]. This valuation represents a substantial increase from the $40 billion run rate reported by Bloomberg and Forbes just last month, implying a growth rate of 75 over a short period [2]. The acceleration is primarily driven by enterprise-focused sales, with business-to-business revenue growing more than 100% since July 2026 [2][3]. This shift underscores a strategic pivot toward commercial deployments, where recurring inference demand provides more predictable revenue streams compared to consumer subscriptions [2].
Market Reaction and Stock Performance
Investor sentiment reacted swiftly to the revenue disclosures, with Oracle Corporation (NYSE: ORCL) shares rising more than 7% during trading on 29 September 2026 [1][4]. As a key cloud infrastructure partner, Oracle is viewed by the market as a direct proxy for OpenAI’s expansion, given the deep integration of Oracle Cloud Infrastructure in supporting AI workloads [1][3]. The stock pushed through the $138 level, reflecting confidence that the infrastructure commitments required to support a $70 billion revenue base will continue to flow through to hardware and cloud partners [4]. Microsoft also remains a critical beneficiary, having recorded $24.1 billion in fiscal-year 2026 revenue from commercial arrangements with OpenAI [2].
Infrastructure Commitments and Risks
Despite the positive momentum, risks regarding infrastructure delivery and customer concentration remain prominent. Oracle booked over $30 billion in new AI cloud contracts in fiscal Q1 2027, pushing Remaining Performance Obligations to a record $664 billion [3]. However, Oracle invoked a force majeure provision for Project Jupiter, a large data center project in New Mexico, to protect against payment liabilities if the site is delayed beyond its scheduled 2028 launch [4]. Additionally, volatility persists following reports that OpenAI canceled the release of its GPT-6.1 Astra AI model on 28 September 2026 due to safety concerns, highlighting the regulatory and technical hurdles inherent in scaling AI development [4].