Oracle Corp (NYSE:ORCL, ETR:ORC)’s market capitalization is approaching $1 trillion after its stock price soared 36% on Wednesday as gains in enterprise software maker’s AI cloud business powered the company’s latest financial results.
Oracle said it now expects its cloud infrastructure revenue to reach $144 billion in fiscal 2030, up from $10.3 billion in 2025.
CEO Safra Catz said the company had signed four multibillion-dollar cloud contracts in the quarter.
Oracle now expects $18 billion in cloud revenue in 2026, a 77% increase from this year.
OpenAI signed a US$300 billion deal with Oracle for computing power, likely accounting for most of the new revenue Oracle outlined in its financial results, the Wall Street Journal reported.
Oracle co-founder Larry Ellison’s wealth increased by $101 billion to $393 billion at one point on Wednesday, exceeding Musk’s net worth of $385 billion, according to Bloomberg.
Ellison is Oracle’s largest individual shareholder, owning 41%, or about 1.16 billion shares, of the software company.