- Oracle shares jumped after a recent filing showed a cloud deal that would add more than $30 billion annually starting in the fiscal 2028 year.
- CEO Safra Catz is expected to share the deal news at a company meeting.
- Oracle shares have jumped more than 33% this year, benefiting from cloud growth and the rise of artificial intelligence models
Oracle shares jumped more than 5% to an all-time high after a recent filing showed a cloud deal that would add more than $30 billion annually.
CEO Safra Catz is expected to share the deal news at a company meeting Monday, according to a filing with the Securities and Exchange Commission. The revenues are expected to start hitting in the 2028 fiscal year.
“Oracle is off to a strong start in FY26,” Catz is expected to say, according to the filing. “Our MultiCloud database revenue continues to grow at over 100%, and we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in FY28.”
The deals Catz is expected to reveal Monday will not affect the company’s 2026 guidance, according to the filing.
Shares have jumped more than 33% this year, benefiting from cloud growth and the rise of artificial intelligence models. Earlier this month, the company closed out its best week since 2001 following strong earnings.
Oracle has announced a slew of AI deals in recent months, including the joint Stargate venture with OpenAI and SoftBank to invest billions in bolstering AI infrastructure.
The company is also working on an iteration in the United Arab Emirates and announced a new AI partnership with IBM last month.
No comments:
Post a Comment