qinbafrank|9月 11, 2026 02:29
Regarding Oracle's latest financial report released today, in my opinion, more convincing data on computing power delivery and revenue realization have been provided. Tell me a few highlights:
1. The growth rate is very strong, and the scale of growth is already large enough
Especially for Oracle's most important OCI business (cloud and AI computing power), the revenue in the past few quarters has been as follows: 3.347 billion → 4.079 billion → 4.888 billion → 5.787 billion → 7.388 billion US dollars this quarter.
OCI's revenue for this quarter increased by approximately 27.7% month on month and 121% year-on-year. This is already a business that is close to 7.4 billion US dollars in a single quarter, and still maintaining such a growth rate has a different significance from the small base stage;
2. The delivery scale of this season has significantly increased
Officially disclosed, this quarter saw the delivery of 850 megawatts of data center capacity and over 300000 GPUs, with a delivery scale nearly three times that of the previous quarter.
The management revealed during this phone conference that the most important Abilene campus delivered approximately 131000 GPUs this quarter; Six out of the eight buildings have been delivered, corresponding to 618 megawatts and approximately 75% of the total capacity of the park.
3. RPO continues to increase, and the quality of growth is more important than absolute scale
This quarter's RPO reached $664 billion, an increase of $26 billion from the previous quarter, with a month on month growth of approximately 4.1%; The company claims to have added over $30 billion in AI cloud contracts this quarter. The backlog of orders is already at the same level as Microsoft and Amazon, and of course, a large part of them are from OpenAI;
The company expects about half of the existing RPO to be converted into revenue in the next 36 months. This means that the cloud business will have a volume of billions of dollars every year in the next three years, but now the cloud business is only worth over 7 billion dollars per quarter.
Please refer to the diagram below for specific details
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