Oracle
ORCLQ3 2025(ORCL Q1 FY2026)Estimated8% AI
AI Revenue %
8%
AI Fair Value
$16.7B
AI Revenue (Q)
$1.1B
Total Revenue (Q)
$13.3B
Source: SEC EDGAR 10-Q Filing
Browse 10-Q filings on SEC.govAnalysis
Q1 FY2026 (Jun-Aug 2025): Total revenue $14,926M. Oracle now breaks out 'Cloud' revenue separately: $7,186M (up 28% from $5,623M prior year). Software: $5,721M. Hardware: $670M. Services: $1,349M. Capital expenditures were $8,502M in Q1 alone (vs $2,303M prior year Q1) -- a massive 3.7x increase. PP&E reached $53,194M. Depreciation nearly doubled to $1,351M (from $804M). Cloud and software segment expenses rose 49% to $3,607M. This capex surge is largely GPU infrastructure for AI workloads. The cloud revenue of $7,186M includes both applications cloud and infrastructure cloud, with infrastructure growing much faster. Not all infrastructure cloud is AI, but a significant and growing portion is GPU compute for AI training/inference. Conservative estimate: ~$1,194M AI revenue / $14,926M total = 8.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Cloud $7,186
Income Statement, 10-Q Aug 2025
Total revenues $14,926
Income Statement, 10-Q Aug 2025
Capital expenditures $8,502
Cash Flow Statement, 10-Q Aug 2025
Property, plant and equipment, net $53,194
Balance Sheet, 10-Q Aug 2025
Depreciation $1,351
Cash Flow Statement, 10-Q Aug 2025
AI Products Identified (Ring 1)
OCI GPU ComputeOCI SuperclusterOCI AI ServicesOracle Database AI features
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Oracle Cloud InfrastructureOracle Autonomous Database
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix