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OpenAI, Oracle and Vantage to build $15B Stargate data center in Wisconsin

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OpenAI, Oracle (ORCL.N), and Vantage Data Centers announced plans to develop a massive new data center campus in Port Washington, Wisconsin, as part of the multibillion-dollar Stargate initiative designed to keep the U.S. at the forefront of artificial intelligence infrastructure.

The Wisconsin site, named Lighthouse, is set for completion in 2028 and will create more than 4,000 skilled construction jobs, most of them union-based. Backed by Vantage’s $15 billion investment, the facility will be a core component of OpenAI and Oracle’s plan to deliver over 4.5 gigawatts of IT capacity nationwide.

Stargate—envisioned as a $500 billion, 10-gigawatt project—also includes Japan’s SoftBank Group (9984.T) and recently began work on its first AI data center in Abilene, Texas. The initiative aligns with President Donald Trump’s broader strategy to maintain U.S. dominance in advanced computing amid growing competition from China.

OpenAI and its primary backer Microsoft (MSFT.O) are among the major tech firms investing heavily in data centers to power generative AI systems such as ChatGPT and Copilot, both of which demand vast computing resources.

Once operational, the Lighthouse campus will anchor a growing network of Stargate sites being developed with Oracle, generating more than 1,000 long-term jobs and thousands of additional indirect roles in the region.

Vantage, supported by private equity firm Silver Lake and asset manager DigitalBridge (DBRG.N), will oversee the Port Washington buildout as part of its ongoing U.S. data center expansion. The companies said the project marks a crucial step toward meeting the exploding global demand for AI infrastructure.

Envoy Air hit by Oracle-linked cyberattack, confirms limited data exposure

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Envoy Air, the largest regional carrier for American Airlines (AAL.O), confirmed on Friday that it was the victim of a cyberattack linked to Oracle (ORCL.N) E-Business Suite vulnerabilities, part of a broader hacking campaign carried out by the CL0P extortion group.

The Texas-based airline said it had launched an internal investigation and contacted law enforcement after discovering the breach, which affected systems connected to Oracle software.

“We have conducted a thorough review of the data at issue and have confirmed no sensitive or customer data was affected,” a company spokesperson said. “A limited amount of business information and commercial contact details may have been compromised.”

Envoy Air operates over 160 aircraft and 875 daily flights for American Airlines. The company is the second confirmed victim of the campaign, which cybersecurity experts say has exploited weaknesses in Oracle’s enterprise systems to infiltrate corporate networks.

The CL0P ransomware group, known for previous high-profile attacks on software providers, claimed responsibility and listed American Airlines on its website as one of the victims, though the airline said questions should be directed to Envoy.

Google’s cybersecurity team said earlier this month that the ongoing campaign may have been active for over three months, resulting in the theft of “mass amounts of customer data” from various organizations. Harvard University also confirmed it was targeted in a similar attack earlier this week.

The breach underscores the growing risks associated with third-party enterprise software, particularly as hackers increasingly exploit widely used business platforms for extortion.

Oracle forecasts $166 billion in cloud revenue by 2030 as AI demand fuels growth

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Oracle (ORCL.N) expects its cloud infrastructure business to soar to $166 billion in annual revenue by fiscal 2030, nearly three-quarters of its total projected sales, as the company capitalizes on surging demand for artificial intelligence and cloud computing.

The forecast, unveiled by CEO Clay Magouyrk during a meeting with analysts, signals Oracle’s growing confidence that its cloud business will continue to expand well beyond its current customer base, which includes OpenAI and Meta Platforms.

CFO Dough Kehring said Oracle anticipates total revenue of $225 billion and adjusted earnings of $21 per share by 2030, outpacing Wall Street expectations of $198.4 billion in sales and $18.92 per share in profits, according to LSEG data.

The company’s cloud infrastructure bookings have ballooned, with Oracle reporting a $65 billion surge in new commitments over a single month last quarter — including a $20 billion deal with Meta. Magouyrk emphasized that the new commitments came from multiple clients, not just OpenAI.

In its most recent quarter, Oracle’s cloud revenue jumped 28% to $7.2 billion, underscoring rapid adoption of its AI and enterprise cloud services.

While the company’s gross margins are expected to fluctuate as it scales its infrastructure business, Oracle said its AI cloud margins will remain in the 30–40% range, while traditional enterprise cloud segments will maintain between 65% and 80% margins.

Oracle shares rose 3% after the forecast, though they dipped slightly in after-hours trading.