OpenAI brings in about $50B a year. It signed up to spend $300B with Oracle

The FT says OpenAI's annualized revenue is about $50B, not the \~$70B everyone was passing around. CNBC and CNN's follow-ups say it's gross vs net, not lost sales.. Accountants, please calm down.

Oracle fell 5.5% anyway, about $24B gone in a day over what's basically a footnote.

Except it isn't one for Oracle. OpenAI signed up last year to buy roughly $300B of computing from it over about five years, starting 2027. That's \~$60B a year from a customer bringing in $50B. Basically a $6k/month lease on a $5k/month salary, plus a promise the raise is coming.

The only Oracle insider who bought stock this year paid $139.35 on Sep 29. It closed at $135.69. Welcome to the club.

Counting problem, or the first real crack in the AI spending story?

No position. Just popcorn.