Oracle
ORCLQ4 2025(ORCL Q2 FY2026)Estimated9% AI
AI Revenue %
9%
AI Fair Value
$19.4B
AI Revenue (Q)
$2.5B
Total Revenue (Q)
$27.4B
Source: SEC EDGAR 10-Q Filing
Browse 10-Q filings on SEC.govAnalysis
Q2 FY2026 (Sep-Nov 2025): Total revenue $16,058M. Cloud revenue $7,977M (up 34% from $5,937M prior year), now representing 50% of total revenue. Software $5,877M, Hardware $776M, Services $1,428M. Six-month capex of $20,535M (vs $6,273M prior year) represents a 3.3x increase, overwhelmingly for data centers with GPU infrastructure for AI workloads. PP&E surged to $67,875M from $43,522M at fiscal year end. Remaining performance obligations reached $523.3B. Cloud and software expenses rose 56% to $3,990M. Operating lease liabilities grew to $16,311M (from $11,536M), indicating massive new data center leases. Oracle's aggressive infrastructure buildout and the 34% cloud revenue growth indicate accelerating AI workload consumption. Still, most cloud revenue includes applications SaaS (Fusion, Cerner/Health, CX) and traditional database hosting. Conservative estimate that AI-specific workloads represent roughly 18% of cloud revenue: ~$1,436M AI / $16,058M total = ~9.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Cloud $7,977
Income Statement, 10-Q Nov 2025
Total revenues $16,058
Income Statement, 10-Q Nov 2025
Capital expenditures $20,535 (6 months)
Cash Flow Statement, 10-Q Nov 2025
Property, plant and equipment, net $67,875
Balance Sheet, 10-Q Nov 2025
Remaining performance obligations were $523.3 billion as of November 30, 2025
Note 1, 10-Q Nov 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