CEO Sam Altman confirmed Tuesday that OpenAI is the customer in Oracle’s $30 billion-per-year data center contract revealed in June. He made the acknowledgment in an X post and a blog update but did not confirm the reported valuation.

Oracle’s SEC filing on June 30 described the deal’s size but withheld the customer’s identity, fueling industry speculation. The announcement sent Oracle’s stock price to a record high and elevated founder Larry Ellison’s net worth.

OpenAI said the agreement secures 4.5 gigawatts of capacity for Stargate, a $500 billion global data center program launched in January with Oracle and SoftBank. SoftBank is not part of this specific transaction.

Altman added that OpenAI’s annual recurring revenue now stands at $10 billion, underscoring the extraordinary scale of the Oracle deal compared to its existing income.