Hello and welcome to closing bell. I'm Sarah Eisen. In today for Scott Wapner, we are live at post 9 of the New York Stock Exchange.

This make-or-break hour starts with another run at records as the NASDAQ and the S&PI fresh record closing highs.

Here's the scorecard with 60 minutes to go in the trading session. Utilities and technology, also energy today leading the way,

while Staples, health care, and discretionary in the reds.

Among notable movers, fintech company Clarnup, hopping in its debut, we'll have a lot more on that coming up.

But the big story, front and center, has to be this monster move in Oracle.

Shares hitting a record eye on a bullish outlook for its AI cloud unit, which takes us to our talk of the tape.

We're getting new details on some of Oracle's cloud deals. Let's get right to McKenzie

Segalis in our San Francisco newsroom with the latest. What do we know, Matt?

Hey, Sarah. So we're getting some clarity on Oracle's blowout earnings. The Wall Street Journal

reporting that Open AI has signed a $300 billion deal with Oracle for cloud computing power.

That is one of the largest contracts of its kind and a staggering figure that far exceeds OpenAI's current revenue.

This is a five-year agreement that starts in 2027, and it helps explain that surge in future contract revenue that Oracle reported last night that now totals $455 billion in backlog.

It also marks the first quarter where Oracle is seeing some return on investment from its massive Stargate Data Center buildout project in the U.S.

And helps justify ramping CAPEX to $35 billion this year.

Oracle's CEO staff for Katz had said on the call after the bell that it signed four

multi-billion dollar contracts with three customers.

We're still looking to put a name to some of those big buyers.

And at this point, Sarah, OpenAI is not weighing in.

So I guess the question there is how sustainable is it?

I guess people are pretty bullish and optimistic that it that it is and that it will continue.

I mean, what's remarkable here is the amount of risk that both sides are taking on.

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