Cloud and compute · Second string · Team Microsoft and OpenAI

Oracle

Databases, business applications and a fast-growing AI cloud.

74OVRRole playerDraft · rated on 4 of 6

Ratings

Oracle's cloud infrastructure revenue was $7.4bn in the quarter to August 2026, up 121%, and an analyst estimate puts OpenAI at about half of its $664bn of remaining performance obligations.

Dominance76draft
A second-string cloud with $664bn of remaining performance obligations and the largest AI contracts signed.
sourced oracle.com
Momentum96draft
Cloud infrastructure revenue rose 121% to $7.4bn in the quarter to August 2026.
sourced oracle.com
Leverage68draft
OpenAI relies on its $300bn, five-year cloud contract starting in 2027 and assuming about 4.5 GW.
reported intuitionlabs.ai
Network base 58, judgment +10.
Durability58draft
Pre-earnings estimates put OpenAI at about half of the backlog (analyst estimate), and free cash flow was negative $5bn.
sourced oracle.com
Firepowerunrated
The Atlas states negative free cash flow of $5bn for Oracle and no cash, raise or funding commitment.
Deal Heatunrated
The Atlas reports no deal talks, pending deal, listing plan or stated acquisition plan for this company.

Badges

Single-Customer Risk draft
Pre-earnings estimates put OpenAI at about half of Oracle's backlog (analyst estimate).

Key figures

$7.4bnCloud infrastructure revenue +121%Growth $664bnRemaining performance obligations −$5bnFree cash flow

From the Atlas key figure: Cloud infrastructure revenue $7.4bn in the quarter to August 2026, up 121%. Remaining performance obligations $664bn. Free cash flow was negative $5bn. Source: oracle.com.

TickerNYSE: ORCL

ListedPublic

HQAustin, Texas

Founded1977

CEOClayton M. Magouyrk and Michael D. Sicilia

Profile

Databases, business applications and a fast-growing AI cloud.

Cloud and compute · Public cloud · Second string

Key figure Cloud infrastructure revenue $7.4bn in the quarter to August 2026, up 121%. Remaining performance obligations $664bn. Free cash flow was negative $5bn.

Why it may rise Signed the largest AI contracts and delivered more than 300,000 GPUs since the end of May.

What could change it Pre-earnings estimates put OpenAI at about half of the backlog (analyst estimate), so one customer carries much of it.

sourced oracle.com

Software · Enterprise applications · Second string

Key figure Software-as-a-service revenue $4.2bn, up 10%, in the quarter to August 2026.

Why it may rise Applications run on the same cloud it is building for AI.

What could change it Growth is far slower than its infrastructure business.

sourced oracle.com

Connections

Allies and partners

OpenAI in AI models and platforms
$300bn, five-year cloud contract starting in 2027 and assuming about 4.5 GW. intuitionlabs.ai
On the map

Rivals

SAP in Software
Cloud applications: Oracle's SaaS grew 10% against SAP's cloud growth of 24%. prnewswire.com
On the map

Owners and backers

owns TikTok US in Internet and consumer platforms
Holds 15% of the US venture that closed in January 2026. cnbc.com
On the map

See Oracle and its connections on the map →

Sector standing

No. 5 of 13 rated in Cloud and compute

No. 6 of 17 rated in Software

Ratings by Claude (draft), 2026-11-02, read from the Atlas data under the ratings rubric. Logo: commons.wikimedia.org. Wikimedia Commons: public domain, with a trademark restriction. The mark is a trademark of its owner.