Oracle maintains its capex forecast and reports cloud growth, sending shares up 7%

Oracle. Bloomberg/Getty Images Oracle maintained its fiscal 2027 capital expenditure forecast at $90 billion to $95 billion. Oracle reported 121% cloud growth, boosting shares by 7% following its earnings report. Oracle is touting new financing models amid pressure to balance AI spending and profitability. Oracle is holding the line on its data center spending forecast. On Thursday, Oracle reported $28.5 billion in first-quarter capital expenditures, up from $8.5 billion a year earlier. It kept its fiscal 2027 capital expenditure forecast at $90 billion to $95 billion, including data center spending. Its capex forecast has not changed from the guidance it first issued in June. Many major cloud companies have continued to raise their AI spending forecasts as they race to build more data centers and expand AI capacity — except Microsoft , which kept its capex forecast unchanged in July and also saw its stock soar after reporting earnings.