Pins matching tag:"Safra Catz"

Oracle closed fiscal 2025 with $15.9 billion of fourth-quarter revenue, up 11%, and $138 billion of contracted backlog, and Safra Catz forecast cloud infrastructure growth of over 70% for fiscal 2026.

An 8-K said Oracle had signed several large cloud services agreements, one expected to bring in more than $30 billion of revenue a year from fiscal 2028 - the contract OpenAI later confirmed as its 4.5 GW Stargate lease.

The General Services Administration's OneGov agreement gave every federal agency a 75% discount on Oracle's licensed technology, cheaper OCI and no egress fees, priced on the whole government's volume.

Oracle said four multi-billion-dollar contracts lifted its contracted backlog 359% to $455 billion and forecast cloud infrastructure revenue rising to $144 billion in four years; the stock gained 36% the next day, its best since 1992.

Oracle promoted cloud chief Clay Magouyrk and industries chief Mike Sicilia to joint chief executives, ending Safra Catz's 11 years as CEO; she became executive vice chair of the board.

A proposed class action in Manhattan says Oracle hid that it needed to borrow heavily again for AI data centers when it sold $18 billion of notes and bonds.