June 30 - Shares of Oracle (ORCL, Financial) climbed more than 5% to an all-time high Monday after a regulatory filing revealed a cloud services agreement projected to bring in over $30 billion annually beginning in fiscal year 2028.
The filing, submitted to the U.S. Securities and Exchange Commission, indicated that CEO Safra Catz is expected to highlight the deal during a company-wide meeting later in the day. While details about the client or contract length were not disclosed, the filing emphasized the scale and future revenue impact of the agreement.
Catz noted in prepared remarks that Oracle is starting fiscal 2026 on strong footing, citing continued momentum in its MultiCloud database business, which is growing at a rate of more than 100% year-over-year. The large-scale agreement is one of several signed in recent months, but it is not expected to impact current fiscal guidance.
Oracle has gained more than 33% year to date, boosted by demand for cloud infrastructure and artificial intelligence technologies. The company recently launched major AI initiatives, including its Stargate project with OpenAI and SoftBank, and a separate collaboration with IBM (IBM, Financial).
The new deal reinforces Oracle's long-term growth trajectory as it deepens its footprint in cloud services.
