Oracle books over $30B in AI cloud contracts in Q1 as infrastructure revenue more than doubles

Oracle just posted the kind of quarter that makes its cloud rivals do a double-take. The company signed more than $30 billion in new AI cloud contracts during Q1 FY2027, pushing its total remaining performance obligations to $664 billion — a $209 billion increase year-over-year. The numbers behind the AI gold rush Cloud infrastructure revenue surged 121% year-over-year to $7.4 billion. Total cloud revenues reached $11.6 billion, a 62% climb from the same period a year earlier. The company delivered more than 300,000 GPUs to AI cloud customers during the quarter, nearly triple the GPU shipments from Q4 FY2026. It also added 850 megawatts of datacenter capacity. Oracle’s customer roster for these AI workloads includes OpenAI, xAI, Meta, NVIDIA, and AMD. Funding the buildout Oracle completed a $20 billion common stock sale through an at-the-market program during the quarter, designed to fund continued datacenter expansion. The most consequential contract driving this confidence appears to be Oracle’s multi-year agreement with OpenAI, tied to the Stargate project. That deal alone carries a potential revenue impact of approximately $30 billion annually starting in FY2028. What this mean...