Oracle ORCL stock jumped late Wednesday after Bloomberg reported that the tech giant will expand its massive Stargate data center project with OpenAI. The news comes two days after Oracle disclosed that it had landed a cloud services deal it expects will be worth more than $30 billion annually starting in 2028, igniting a rally for Oracle shares.

OpenAI has agreed to rent a massive amount of computing power from Oracle Corp. data centers as part of its Stargate initiative, underscoring the intense requirements for cutting-edge artificial intelligence products.

OpenAI plans to rent additional data center capacity from Oracle (NYSE:ORCL) for the Stargate Project, according to Bloomberg. Oracle shares climbed 4% during late market action on Wednesday. If the gains hold,