Oracle signed $30B per year cloud deal with mystery customer
bloomberg.com
bloomberg.com
https://www.msn.com/en-us/money/topstocks/oracle-stock-jumps...
"...its chief executive touted the tech giant's recent success in landing cloud services agreements, including one that will reach more than $30 billion in revenue by 2028
Oracle Chief Executive Safra Catz said in a regulatory filing early Monday that... we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in fiscal year 2028,"
Which sounds like it may be for the new Oracle/SoftBank/OpenAi datacentre that is being opened?
The former would be outright fraud.
The latter would be a really bad idea on Oracle's side; being able to actually serve that contract will require a huge amount of capex spenditure, and that spending needs to start pretty much right now. They're not taking the liability of that build-out without having confidence in the customer actually paying in three years.