Oracle just dropped a bombshell that's reshaping the cloud infrastructure landscape. The database giant secured $65 billion in new cloud commitments in just 30 days, with Meta confirmed as a major client. The news sent Oracle's stock soaring 5% as investors digest what CEO Clay Magouyrk called "immense demand" for AI infrastructure.
Oracle just proved it's not playing second fiddle to Amazon and Google in the cloud wars. The database powerhouse revealed Thursday that it locked in $65 billion worth of new cloud infrastructure commitments in just 30 days during the current quarter - a staggering figure that sent shares climbing 5% in after-hours trading.
The revelation came during Oracle's AI World conference in Las Vegas, where CEO Clay Magouyrk confirmed what many suspected: Meta is one of the four major customers behind this massive commitment spree. "It was across seven different contracts from four different customers," Magouyrk told analysts, according to CNBC. The confirmation validates Bloomberg's September report about a potential $20 billion deal between Oracle and Meta.
What's particularly striking is Oracle's transparency about its customer diversification. Magouyrk made a point to clarify that "none of those customers are OpenAI," addressing speculation about Oracle's reliance on the ChatGPT maker. While OpenAI remains a significant client with its own $300 billion commitment from July, Oracle's landing these four new major deals proves its appeal extends far beyond one AI darling.
The timing couldn't be better for Oracle's positioning. Meta announced in July that it expects to spend between $66 billion and $72 billion this year on capital expenditures, much of it flowing toward AI infrastructure. Oracle's ability to capture a significant slice of that spending demonstrates how the company has successfully pivoted from its traditional database roots into the high-stakes AI infrastructure game.
Magouyrk's comments about supply constraints reveal another layer to Oracle's strategy. "You see the change in these numbers that it's a little bit easier for us to find supply, not this year or next year, but in subsequent years," he explained. This suggests Oracle is playing a longer game, securing commitments now for infrastructure that will come online as supply chains improve and data center capacity expands.
