Oracle has signed a mysterious cloud contract worth more than $30 billion (€25.4 billion) per year. This would double its current cloud revenue.
An annual revenue addition of $30 billion is significant news for Oracle. In fiscal year 2025, total cloud revenue was only $24.4 billion—less than this single mysterious contract. Total operating income rose 8 percent year-over-year to $57.4 billion.
Contract fuels speculation
CEO Safra Catz said the company has made a strong start to the current fiscal year. Several major cloud agreements have already been signed. However, one contract stands out, according to a new SEC filing reported by TechRadar. This agreement is worth more than $30 billion and is fueling speculation about the identity of this major customer.
The contract was signed in Oracle’s 2026 fiscal year but will not take effect until 2028. Until then, it remains unclear whether more details will be shared. Possible partners mentioned include OpenAI, which is collaborating with Oracle on Project Stargate, Temu as a recent Oracle customer, and TikTok, which uses Oracle Cloud in the United States.
Impact on Oracle’s growth ambitions
Oracle has also announced plans for a $40 billion AI data center complex near Dallas for Project Stargate. The project will be allocated 400,000 Nvidia GB200 GPUs. The company plans to invest up to $500 billion in infrastructure by 2029 to meet demand.
Although the $30 billion contract offers stability, there are challenges. Capital expenditures tripled from $7 billion to $21 billion in one year. Oracle does predict 70 percent growth in cloud infrastructure revenue by the end of this fiscal year and expects operating income of $104 billion in fiscal 2029.