Oracle CEO Magouyrk: 'Of course' OpenAI can pay $60 billion per year

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Oracle

CEO Clay Magouyrk, one of the two people tapped last month to lead the software company, is confident that OpenAI will be able to cover the costs of the massive amount of cloud infrastructure services it consumes.

In an interview with CNBC's David Faber at Oracle's AI World conference on Monday, Magouyrk said "of course" OpenAI can pay $60 billion for a year's worth of cloud resources. In July, OpenAI agreed to a five-year deal with Oracle that's worth over $300 billion.

"Just look at the rate at which they've grown to, you know, almost a billion users. That's just unheard of," said Magouyrk, who sat alongside fellow Oracle CEO Mike Sicilia for the interview in Las Vegas.