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Oracle’s AI Cloud Guidance Triggers Record Rally as Ellison Nears Musk in Wealth

Investors latched onto a $455 billion backlog from four multibillion contracts despite a narrow earnings miss.

FILE - Larry Ellison, chairman and chief technology officer of Oracle Corporation, sits in the Oval Office of the White House as President Donald Trump signs an executive order, Monday, Feb. 3, 2025, in Washington. (AP Photo/Evan Vucci, File)
Oracle's Larry Ellison is now the world's richest person.
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Overview

  • Oracle shares jumped roughly 30% to 41% intraday, its biggest one-day surge since 1992, lifting market value toward $900 billion to about $950 billion.
  • CEO Safra Catz said Oracle signed four multibillion-dollar contracts with three customers last quarter and expects to add several more.
  • Remaining performance obligations rose 359% to about $455 billion, reflecting contracted revenue yet to be recognized.
  • Oracle guided Oracle Cloud Infrastructure revenue to $18 billion this fiscal year, then to $32 billion, $73 billion, $114 billion and $144 billion over the following years.
  • The quarter slightly missed estimates at $14.9 billion in revenue and $1.47 EPS, while Larry Ellison’s stake-driven net worth rose by about $70 billion to over $100 billion in some tallies, with wealth indexes differing on whether he overtook Elon Musk.