Oracle has signed a significant cloud contract worth over $30 billion that will double its current cloud revenue, adding notable income ahead of fiscal year 2025's total of $24.4 billion. The CEO mentioned that several cloud agreements have already been made, but the $30 billion contract, effective in 2028, has generated speculation about its customer, potentially OpenAI, Temu, or TikTok. Additionally, Oracle plans to build a $40 billion AI data center complex and invest up to $500 billion in infrastructure by 2029, while facing increased capital expenditures.
Oracle's significant cloud contract worth over $30 billion will double its cloud revenue, generating more than its total cloud revenue for fiscal year 2025.
CEO Safra Catz emphasizes Oracle's strong start to the fiscal year with several major cloud agreements in place, highlighting the potential of a $30 billion contract.
The $30 billion contract, effective in 2028, has sparked speculation about its major customer, with possible partners including OpenAI, Temu, and TikTok.
Oracle plans to invest up to $500 billion in infrastructure by 2029 to meet rising demand, although capital expenditures have tripled from $7 billion to $21 billion.
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