12:32 PM EDT, 05/14/2024 (MT Newswires) -- Oracle's (ORCL) executives are discussing a $10 billion deal to rent cloud servers over a period of years to Elon Musk's artificial intelligence startup xAI, the Information reported Tuesday, citing a person involved in the talks.

A successful transaction will make xAI one of Oracle's largest customers, according to the report.

Oracle shares were up nearly 4% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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