Why Oracle Stock Needs a Successful OpenAI IPO -- and Microsoft Doesn't -- Barrons.com

Dow Jones06-09

By Adam Clark

Oracle and Microsoft both have big ties to OpenAI, but neither got a lift from the ChatGPT ma

Both actually took a pretty good hit in midday trading Tuesday after OpenAI's announced it was confidentially filing for an IPO late Monday. Oracle was down about 2.2%, to $209.64. Microsoft was off 5.1%, to $406.61.

Oracle's ties to OpenAI is a $300 billion deal for to build out AI data centers through 2030. The deal accounts for more than half of Oracle's $553 billion cloud-computing backlog -- the total value of future revenue it expects but hasn't collected yet.

The OpenAI deal is the cornerstone of Oracle's pivot under executive chairman Larry Ellison from software to AI infrastructure services. Investors will get more insight when Oracle reports its earnings after Wednesday's market close.

A successful OpenAI debut would reassure Oracle's shareholders that OpenAI can fulfill it roughly $1.4 trillion spending commitments.

Apart from Oracle and Microsoft, OpenAI has major cloud-computing and chip deals with a number of including CoreWeave, Advanced Micro Devices, and Broadcom.

Microsoft's stake was estimated at 27% before OpenAI's latest funding round. But despite the size, the companies have renegotiated the terms of their partnership in the past few months. The move have loosened the ties of their relationship.

Microsoft is still set to license OpenAI models and products through 2032 but no longer has an exclusive right to them. OpenAI still relies on Microsoft as a cloud provider, but not as its exclusive provider.

In the past 12 months, Microsoft stock has fallen 13% on fears that OpenAI -- and its rival Anthropic -- will disrupt the market for Microsoft's business software.

In March, Microsoft was a Barron's stock pick. We argued that those fears were overblown and shared looked cheap at current prices.

Write to Adam Clark at adam.clark@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 09, 2026 11:36 ET (15:36 GMT)

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The deal accounts for more than half of Oracle's $553 billion cloud-computing backlog -- the total value of future revenue it expects but hasn't collected yet. \n</p>\n<p>\n  The OpenAI deal is the cornerstone of Oracle's pivot under executive chairman Larry Ellison from software to AI infrastructure services. Investors will get more insight when Oracle reports its earnings after Wednesday's market close. \n</p>\n<p>\n  A successful OpenAI debut would reassure Oracle's shareholders that OpenAI can fulfill it roughly $1.4 trillion spending commitments. \n</p>\n<p>\n  Apart from Oracle and Microsoft, OpenAI has major cloud-computing and chip deals with a number of including <a href=\"https://laohu8.com/S/CRWV\">CoreWeave</a>, Advanced Micro Devices, and Broadcom. \n</p>\n<p>\n  Microsoft's stake was estimated at 27% before OpenAI's latest funding round. But despite the size, the companies have renegotiated the terms of their partnership in the past few months. 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Global Income A (div) SGD","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","HK0000532082.HKD":"ALLIANZ SELECTION INCOME AND GROWTH \"AM\" (HKD) INC"},"translate_title":"为什么甲骨文股票需要成功的OpenAI IPO——而微软不需要——Barrons.com","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/17e60969c954f8c1062c4604d5b3a180","symbols_score_info":{"MSFW":0.6,"MSFY":0.6,"MSFL":0.6,"ORCL":1.95,"ORCX":0.6,"MSFU":0.6,"MSFD":0.6,"MSFO":0.6,"ORCS":0.6,"MSFX":0.6,"ORCU":0.6,"MSFT":1.9},"content_text":"By Adam Clark \n\n\n  Oracle and Microsoft both have big ties to OpenAI, but neither got a lift from the ChatGPT ma \n\n\n  Both actually took a pretty good hit in midday trading Tuesday after OpenAI's announced it was confidentially filing for an IPO late Monday. Oracle was down about 2.2%, to $209.64. Microsoft was off 5.1%, to $406.61. \n\n\n  Oracle's ties to OpenAI is a $300 billion deal for to build out AI data centers through 2030. The deal accounts for more than half of Oracle's $553 billion cloud-computing backlog -- the total value of future revenue it expects but hasn't collected yet. \n\n\n  The OpenAI deal is the cornerstone of Oracle's pivot under executive chairman Larry Ellison from software to AI infrastructure services. Investors will get more insight when Oracle reports its earnings after Wednesday's market close. \n\n\n  A successful OpenAI debut would reassure Oracle's shareholders that OpenAI can fulfill it roughly $1.4 trillion spending commitments. \n\n\n  Apart from Oracle and Microsoft, OpenAI has major cloud-computing and chip deals with a number of including CoreWeave, Advanced Micro Devices, and Broadcom. \n\n\n  Microsoft's stake was estimated at 27% before OpenAI's latest funding round. But despite the size, the companies have renegotiated the terms of their partnership in the past few months. The move have loosened the ties of their relationship. \n\n\n  Microsoft is still set to license OpenAI models and products through 2032 but no longer has an exclusive right to them. OpenAI still relies on Microsoft as a cloud provider, but not as its exclusive provider. \n\n\n  In the past 12 months, Microsoft stock has fallen 13% on fears that OpenAI -- and its rival Anthropic -- will disrupt the market for Microsoft's business software. \n\n\n  In March, Microsoft was a Barron's  stock pick. We argued that those fears were overblown and shared looked cheap at current prices. \n\n\n  Write to Adam Clark at adam.clark@barrons.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 09, 2026 11:36 ET (15:36 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2642207496","isCrawlerRequest":true}