United States · Business news · AI & Tech · 10 Sept 2026
AI: Cloud and data centres · Chips and hardware · Oracle — more AI news
Oracle reported fiscal first-quarter revenue of $19.3 billion, up 30%. Cloud revenue rose 62% to $11.6 billion, with cloud infrastructure revenue up 121% to $7.4 billion. Remaining performance obligations were $664 billion, $209 billion more than a year earlier, and the company said it booked more than $30 billion of additional AI cloud contracts in the quarter. It delivered 850MW of extra data-centre capacity and more than 300,000 GPUs to AI cloud customers. Capital expenditure was $28.499 billion and free cash flow was negative $5 billion.
Oracle's $664 billion backlog is revenue its customers, largely AI developers, have contracted but not yet paid, and it is 34 times the quarter's $19.3 billion of revenue. To deliver it Oracle spent $28.499 billion on capex in one quarter, more than its total revenue, leaving free cash flow at negative $5 billion. The more than 300,000 GPUs delivered are purchases from chip suppliers such as Nvidia and AMD.
Reported by Oracle (SEC Form 8-K) — “Oracle Announces Q1 Results Driven by Triple Digit Growth in Cloud Infrastructure Revenues” ↗ on 10 Sept 2026.
Official series on 10 Sept 2026 or the last day before it, and the latest observation.
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