Oracle Stock Jumps as AI Cloud Backlog Reaches $664B

Oracle shares rose nearly 8% in extended trading on September 10 after the company reported booking more than $30 billion in additional AI cloud contracts during the first quarter of fiscal 2027, lifting remaining performance obligations to $664 billion. The backlog was up $209 billion from a year earlier, according to Oracle’s earnings release.

The after-hours move followed a quarterly revenue beat and an increase in the company’s fiscal 2027 adjusted earnings forecast.

AI cloud contracts lift Oracle’s RPO to $664 billion

Oracle’s contracted-demand measure reached $664 billion after the new AI cloud agreements, providing a large pool of future performance obligations for its cloud business. RPO represents revenue that has not yet been recognised from contracted commitments.

The company reported first-quarter total revenue of $19.3 billion, up 30% year over year. Cloud infrastructure revenue increased 121% to $7.4 billion, Oracle said.

The results place AI-related cloud demand at the centre of Oracle’s latest growth figures, with the sharp RPO increase arriving alongside triple-digit growth in cloud infrastructure revenue.

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