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Oracle Corp . (NYSE:ORCL), currently trading near its 52-week high of $216.93, reported Monday that it has begun fiscal year 2026 with growth in its MultiCloud database revenue exceeding 100%. The company also announced the signing of several large cloud services agreements, including one contract expected to contribute more than $30 billion in annual revenue starting in fiscal year 2028. This development builds on Oracle’s strong momentum, with revenue growing 8.38% over the last twelve months to $57.4 billion.
The update was provided by Oracle Chief Executive Officer Safra Catz, who plans to address Oracle colleagues later in the day. The company stated that the amounts ultimately recognized from the noted contract may vary, and execution of these contracts will not result in any change to Oracle’s fiscal year 2026 guidance, as previously provided on June 11, 2025.
Oracle highlighted that statements relating to future plans and expectations are forward-looking and subject to risks and uncertainties, including contractual disputes, management of cloud and hardware offerings, datacenter capacity, and legal or regulatory matters.
This information is based on a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, Oracle has been the focus of multiple analyst upgrades and strategic developments. Stifel upgraded Oracle’s stock rating from Hold to Buy, citing growth expectations in its Cloud Infrastructure and SaaS-Apps businesses, with projected revenue growth of 16% in fiscal year 2026 and 20% in fiscal year 2027. Guggenheim also raised its price target to $250, maintaining a Buy rating, based on Oracle’s shift towards operating income growth and a promising outlook for cloud services. Jefferies followed suit by increasing its price target to $220, highlighting Oracle’s robust RPO growth and future potential in the artificial intelligence infrastructure market.
Additionally, Oracle has announced a partnership with xAI to offer Grok models via Oracle Cloud Infrastructure’s Generative AI service, enhancing AI capabilities for enterprise applications. In a move to bolster its AI workload offerings, Oracle will deploy AMD (NASDAQ:AMD) Instinct MI355X GPUs in its cloud infrastructure, providing improved price-performance and advanced networking capabilities. The collaboration with AMD aims to support large-scale AI training and inference workloads with enhanced memory and bandwidth features. These developments reflect Oracle’s ongoing efforts to expand its cloud and AI services in response to growing demand.
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