[Bernstein Research Report: Oracle OCI Revenue Surpasses Alibaba Cloud, Target Price $325] According to Trend Research, Bernstein's September 2 report indicates that Oracle OCI Gen 2 is projected to achieve $18.1 billion in revenue by FY26, surpassing Alibaba Cloud and ranking only behind AWS, Azure, and Google Cloud. Bernstein maintains an outperform rating with a target price of $325. FY26 capital expenditure is estimated at $55.6 billion, with FY27 expected to reach $92.8 billion. AI data center-related revenue is approximately $6.6 billion, accounting for 36% of OCI revenue. Oracle's core business generates strong cash flow, supporting AI data center capital expenditures. FY26 software revenue is projected at $58.5 billion, with cloud business share rising to 58% and operating profit margin at 42.9%. FY27 operating profit is expected to increase to $37.9 billion.