Oracle delivered a strong signal that enterprise demand for AI infrastructure remains intense. Fiscal first-quarter revenue rose 30% to $19.3 billion, while adjusted earnings reached $1.92 per share. The bigger story was Oracle’s backlog. The company booked more than $30 billion in new AI cloud contracts, lifting remaining performance obligations to $664 billion.

Negative free cash flow was $5.4 billion, much better than the roughly $9.6 billion outflow expected.

Winners

AI chips and accelerated computing

Names: $NVDA (NVIDIA), $AMD (Advanced Micro Devices)

Oracle Cloud Infrastructure uses accelerators from NVIDIA and AMD. If Oracle converts more of its backlog into active workloads, it will need additional computing capacity. That supports demand for GPUs and processors used to train and run AI models.

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