Oracle's cloud infrastructure revenue jumps 121% as its contracted backlog reaches $664 billion
The clearest measure of the AI buildout is no longer a chip count; it is a backlog nobody can fill yet.
Oracle reported fiscal first-quarter revenue of $19.3 billion on September 10, up 30%, with cloud infrastructure revenue rising 121% to $7.4 billion and total cloud revenue up 62% to $11.6 billion. Remaining performance obligations, the company's measure of contracted work not yet delivered, reached $664 billion, an increase of $209 billion from a year earlier, and Oracle said it booked more than $30 billion of additional AI cloud contracts during the quarter. Non-GAAP earnings were $1.92 per share, up 30%, while GAAP earnings were $1.56, up 55%. Oracle said it delivered 850 megawatts of additional datacenter capacity and that demand for its AI training and inference services continues to grow faster than supply.
Scripture for Reflection
“Instruct those who are rich in the present age not to be conceited and not to put their hope in the uncertainty of wealth, but in God, who richly provides all things for us to enjoy.”
Numbers this large can quietly become our security, so we can hold our forecasts loosely and place our hope somewhere steadier.
