Oracle recently signed an agreement with Meta to support projects related to the Llama family of large language models, highlighting its competitive edge in AI model training. The company raised its fiscal 2026 revenue guidance to $66 billion, surpassing analysts' projections. Additionally, Oracle announced plans to offer computing clusters using Nvidia "Blackwell" GPUs for AI tasks. The stock has surged over 80% this year, marking its best annual performance since 1999.
Key takeaways:
- Oracle's fiscal second-quarter earnings and revenue fell slightly short of analysts' expectations, with earnings per share at $1.47 and revenue at $14.06 billion.
- Oracle's cloud services business, which accounts for 77% of total revenue, saw a 12% increase in revenue year over year, with cloud infrastructure revenue soaring 52% to $2.4 billion.
- Oracle signed an agreement with Meta to use its infrastructure for projects related to the Llama family of large language models, highlighting its competitive edge in AI model training.
- Oracle's stock has risen over 80% this year, marking its best annual performance since 1999, and the company raised its fiscal 2026 revenue guidance to $66 billion.