What smart money is saying about Oracle Corporation
ORCL · Technology · Software - Infrastructure · Market cap $535.58B
6 funds in our archive have pitched Oracle Corporation, most recently Oakmark Fixed Income in June 2026.
Company profile
Oracle Corporation, a global technology giant, provides a comprehensive suite of enterprise information technology solutions worldwide. A core part of its portfolio comprises cloud-based software-as-a-service (SaaS) applications, including the Oracle Fusion Cloud suite covering enterprise resource planning (ERP), enterprise performance management (EPM), supply chain and manufacturing management (SCM), and human capital management (HCM). This also extends to specialized offerings like Oracle Advertising, the NetSuite application suite, and Oracle Fusion solutions for Sales, Service, and Marketing. Beyond these, Oracle develops cloud solutions tailored for various specific industries, alongside traditional application licenses and comprehensive license support services. Furthermore, the company's robust cloud and licensing business is underpinned by its infrastructure technologies. These include the flagship Oracle Database, the widely adopted Java programming language, and various middleware components such as development tools. Its advanced cloud infrastructure provides compute, storage, and networking capabilities, complemented by innovative services like the Oracle Autonomous Database, MySQL HeatWave, Internet-of-Things (IoT) platforms, digital assistants, and blockchain technology. Oracle also offers a range of hardware products and associated software. This encompasses Oracle engineered systems, enterprise servers, storage solutions, and specialized hardware for particular industries. Additionally, it provides virtualization software, operating systems, management software, and related hardware support. Complementing its product lines, Oracle delivers expert consulting and dedicated customer services. The company employs a direct sales model, reaching businesses across diverse sectors, government bodies, and educational institutions globally, while also leveraging an extensive network of indirect channels. Established in 1977, Oracle Corporation maintains its corporate headquarters in Austin, Texas.
Get an email when a fund buys, sells or pitches it
Fund signal · last 12 months
32 lettersMore funds are selling than buying
−6
Net flow
6 buys · 4 new positions · 33%12 sells · 8 full exits
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2025 and Q3 2026, 41 fund letters reported a position in Oracle Corporation, with 7 buys (opened or added) and 12 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 12 | 3 | 4 | 0 |
| Q2 2026 | 11 | 2 | 4 | 1 |
| Q1 2026 | 3 | 1 | 0 | 1 |
| Q4 2025 | 6 | 0 | 4 | 1 |
| Q3 2025 | 4 | 1 | 0 | 2 |
| Q2 2025 | 4 | 0 | 0 | 0 |
| Q1 2025 | 1 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 41 positions · 22 moves
- New positionCDT Capital VNAVSeptember 2026
“As a provider of semiconductor intellectual property and design consulting, Broadcom is already working with Google, Meta, OpenAI, and Anthropic toward this end. As a result of this auspicious positioning, Broadcom is now one of the largest positions in our portfolio. We also believe that hyperscalers will benefit from this shifting power dynamic. As a result, we recently repurchased our position in Microsoft (MSFT) and today bought a small starting position in Oracle (ORCL).”
Oracle Corporation - New positionCDT Capital VNAV FundSeptember 2026
“As a result of this auspicious positioning, Broadcom is now one of the largest positions in our portfolio. We also believe that hyperscalers will benefit from this shifting power dynamic. As a result, we recently repurchased our position in Microsoft (MSFT) and today bought a small starting position in Oracle (ORCL).”
Oracle Corporation - September 2026
“Portfolio Activity During the quarter, we did not initiate any new positions, though we added to our holdings in NVIDIA (NVDA) and trimmed Apple (AAPL). We also exited our remaining position in Oracle (ORCL), following a sharp increase in the share price.”
Oracle Corporation - September 2026
“Portfolio Activity During the quarter, we initiated a new position in StandardAero (SARO) and we exited our remaining position in Oracle (ORCL).”
Oracle Corporation - HoldsOakmark Bond FundSeptember 2026
“We own bonds issued by five companies in this cohort: Meta, Alphabet, Amazon, Oracle, and SpaceX.”
Oracle Corporation - HoldsDistillate CapitalSeptember 2026
“The shift is quite obviously the result of the unprecedented investment spending of the hyperscalers.”
Oracle Corporation - September 2026
“Oracle Corporation is an enterprise information technology company that provides industry-leading cloud infrastructure technology and applications as well as hardware products and professional services.”
Oracle Corporation - September 2026
“During the quarter, we exited our position in Oracle.”
Oracle Corporation - September 2026
Listed in Artisan Partners High Income Strategy’s reported holdings.
Oracle Corporation - September 2026
“CFI slightly underperformed the index on a gross-of-fees basis, with two longer-duration holdings, Oracle Corporation (ORCL) and D.R. Horton Inc (DHI), detracting most notably.”
Oracle Corporation - September 2026
“Highlighted Detractors Oracle Corporation (ORCL) 5.50% due 8/3/2035 (Baa2/BBB-) underperformed as its long duration compounded spread pressure tied to the company’s AI infrastructure buildout.”
Oracle Corporation - New positionBrandes Core Plus Fixed Income FundSeptember 2026
Listed in Brandes Core Plus Fixed Income Fund’s reported holdings.
Oracle Corporation - TrimmedNightview Capital NITE ETFJune 2026
“Oracle sits underneath a stunning amount of the world’s data and has become one of the more important landlords of AI computing infrastructure. The demand for its cloud has been remarkable. That strength is also why we trimmed the position modestly, harvesting some of a strong run to fund ideas where we saw more room ahead.”
Oracle Corporation - June 2026
Listed in Artisan Partners High Income Strategy’s reported holdings.
Oracle Corporation - HoldsOakmark Fixed IncomeJune 2026
“Meta’s success doesn’t depend on the success of one specific large language model. Mark Zuckerberg has repeatedly demonstrated an ability to adapt the business as technology evolves. Whether AI ultimately creates value through proprietary models, open-source innovation or embedded applications, Meta has multiple ways to benefit. To us, that’s an attractive way to gain AI exposure. We do not think Meta requires one specific AI outcome to succeed, and neither does our investment. Oracle, which we touched on briefly last quarter, is another example.”
Oracle Corporation - June 2026
“Today, few companies are making ROI-based decisions on AI spending. Many are investing aggressively because they do not want to risk falling behind (FOMO). At times, the spending appears haphazard, as evidenced by large companies paying bonuses based on higher token usage. The result is a capital expenditure (capex) sprint that, by any historical measure, is extraordinary. The five largest cloud and AI infrastructure giants (Amazon, Alphabet, Meta, Microsoft, and Oracle) are projected to spend over $725 billion on capex in 2026 alone,”
Oracle Corporation - June 2026
“Oracle Oracle detracted from performance in the second quarter amid a broader reversal in software sentiment, as investors continued to question SaaS durability and pricing power in an AI-native world following the "SaaSpocalypse" scare earlier in the year.”
Oracle Corporation - June 2026
“Trading activity The hardest decision in investing is selling a winner while it is still winning. We made it eight times this quarter: alongside SK Hynix, Applied Materials and Ciena, we sold GE Vernova, Keyence, Lasertec, Oracle and Constellation Energy, positions whose share prices, in our view, now fully reflect the theses that earned them their place.”
Oracle Corporation - June 2026
“The hardest decision in investing is selling a winner while it is still winning. We made it eight times this quarter: alongside SK Hynix, Applied Materials and Ciena, we sold GE Vernova, Keyence, Lasertec, Oracle and Constellation Energy, positions whose share prices, in our view, now fully reflect the theses that earned them their place.”
Oracle Corporation - June 2026
“We exited our position as investors became concerned about rising capital spending/debt issuance as Oracle is again issuing more debt to fund its data center buildout - contrary to our buy thesis.”
Oracle Corporation - June 2026
“Within Information Technology, we trimmed semiconductor positions following strong returns but continue to hold meaningful exposure to the group to maintain participation in the secular growth in AI. We redeployed some of those proceeds more broadly across the AI ecosystem, adding to hyperscaler cloud platforms such as Amazon, Microsoft and Oracle, where we believe the market underappreciates a growing backlog of AI infrastructure demand.”
Oracle Corporation - AddedCrossingBridge Advisors FundsJune 2026
“Oracle Corporation (ORCL) 2.80% Senior Unsecured Bonds due 2027 and 3.25% Senior Unsecured Bonds due 2027 [31] On 6/30/26, the Oracle 2.80% Senior Unsecured Bonds due 2027 represented 1.10% of the CrossingBridge Responsible Credit Fund and 0.37% of the CrossingBridge Ultra-Short Duration Fund. On the same date, the Oracle 3.25% Senior Unsecured Bonds due 2027 represented 1.06% of the CrossingBridge Low Duration High Income Fund. - ORCL remains a high-quality, investment-grade software and cloud infrastructure provider, characterized by highly recurring revenue and strong free cash flow generation. During the quarter, we took advantage of a pricing dislocation in the company's short-dated bonds, opportunistically buying two of ORCL's short-dated bonds, rated BBB-/Baa2, due 2027, at elevated spreads of +94 to +102 bps — a highly attractive entry point compared to the roughly +49 bps observed at the end of 2025.”
Oracle Corporation - TrimmedPolen Capital Global GrowthJune 2026
“Portfolio Activity In Q2 2026, we initiated new positions in GE Aerospace, GE Vernova, Howmet Aerospace, Hermès International, Keyence, and Rheinmetall while selling our holdings in Boston Scientific, Siemens Healthineers, and Zoetis. During the period we also added to our positions in ASML and Idexx Labs and trimmed our positions in Starbucks, Oracle, Shopify, Aon and Broadcom.”
Oracle Corporation - HoldsPolen Focus GrowthMarch 2026
“Contrarily, these embedded enterprise software companies can add AI agents to their existing offerings far easier than AI agents can displace incumbent software. In addition, as agents need access to a company’s mission critical software, the software companies may be able to monetize agentic users just as they do human ones. Companies like Microsoft, ServiceNow, Shopify, Oracle, CoStar and Synopsys all have multiple moats and, in each case, we see generative AI as a tailwind for their businesses, not a headwind.”
Oracle Corporation - New positionWhite Falcon CapitalMarch 2026
“Oracle Corporation Oracle is reinventing itself from a traditional software company into a vertically integrated enterprise cloud provider, controlling the entire stack from infrastructure to database to enterprise applications. At its core, with its database and applications, Oracle is the ‘system of record’ which executives rely on as the ‘single source of truth’ within an enterprise. Much of the world’s government, financial, healthcare, and retail data runs on Oracle databases, making the platform deeply mission critical and exceptionally sticky. Even in a world where agents autonomously execute business processes, enterprises will always need a ‘single source of truth’ to reconcile transactions, diagnose failures, and audit agent driven decisions. Today, Oracle is leveraging this foundation to transform into a specialized cloud and AI business. Their strategy is to use their ‘data moat’ to pull AI workloads onto their infrastructure business (OCI). Because so much of the world’s mission critical information already lives in Oracle databases, the company is using that position to attract AI training and inference workloads onto OCI. It is now the fourth largest hyperscaler but rather than compete head on with AWS, Azure, or Google, Oracle is partnering with them and giving enterprises multicloud flexibility. Interestingly, Oracle’s late arrival to the cloud has actually worked in its favor as it could incorporate the industry’s best architectural practices for its specific workloads. Even though this strategic pivot is logical, the market remains skeptical because cloud and AI infrastructure require enormous amounts of upfront capital. Early results are encouraging. Oracle is already generating solid cloud margins at its current scale, growing OCI consumption, and accelerating both its database and enterprise application businesses. Oracle is also being creative and securing billions in upfront payments from customers who essentially pay for their own hardware in exchange for guaranteed access to ‘compute’. We believe that the debt/EBITDA ratios for Oracle will be manageable as they build out this infrastructure and consolidated ROIC’s will be more than sufficient. “AI is a five‑layer cake… spanning energy, chips and computing infrastructure, cloud data centers, AI models and, ultimately, the application layer.” - Jensen Huang, CEO Nvidia With OCI, the database, and its applications portfolio, Oracle now participates in three of the five layers of the AI stack. We established our position recently at 20x 2026E EPS, which we view as attractive given the company’s quality and the potential upside.”
Oracle Corporation - HoldsAriel Focused ValueMarch 2026
“Lastly, global enterprise software leader Oracle Corporation (ORCL) underperformed during the quarter in the wake of near-term concerns around elevated capital spending, gross margin pressure and execution risk tied to its large scale AI infrastructure build out.”
Oracle Corporation - December 2025
“We exited our position in Oracle due to rising concerns about the company’s financial strength.”
Oracle Corporation - December 2025
“Our stock selection within the Information Technology sector was the largest detractor from relative performance. Oracle (-30.6%) underperformed during the quarter as strong cloud and AI-driven demand was offset by investor focus on the scale, timing, and funding of Oracle’s aggressive data center expansion.”
Oracle Corporation - TrimmedMar Vista US Quality PremierDecember 2025
“Investor enthusiasm for Oracle’s (ORCL) stock in calendar year 2025 was initially driven by several multi-billion-dollar contracts it signed with leading AI companies, including OpenAI and Meta. However, in Q4 sentiment for ORCL’s growth prospects shifted to skepticism, as investors began to scrutinize the return profile of the substantial capital investments required to support the approximately $500 billion of contracts signed by Oracle. As a result, investors grew increasingly concerned about Oracle’s ability to fund these investments and the concentration of future revenue exposure tied to OpenAI. While OpenAI is an early leader in artificial intelligence with nearly 900 million weekly average users, it remains relatively unproven given the scale and duration of its contractual commitments. We recognize the risks associated with OpenAI’s ability to fund these obligations and to successfully monetize its platform beyond consumer subscriptions, including through advertising and deeper penetration of the enterprise IT market. Given the widening range of potential outcomes associated with Oracle’s elevated capital needs, we reduced our position in ORCL during Q4.”
Oracle Corporation - TrimmedMar Vista US QualityDecember 2025
“Given the widening range of potential outcomes associated with Oracle’s elevated capital needs, we reduced our position in ORCL during Q4.”
Oracle Corporation - ExitedPlatinium Asset ManagementDecember 2025
“We exited Oracle in December 2024 as management is all in on competing with hyperscalers to build AI datacentre capacity for OpenAI.”
Oracle Corporation - ExitedDavenportDecember 2025
“We mentioned in last quarter’s letter chipping star performer Oracle Corp (ORCL) multiple times. Shares rose another 10% in the opening days of the fourth quarter amid what appeared to be peak enthusiasm surrounding its data center growth prospects, and we fully exited the position in October.”
Oracle Corporation - September 2025
“Oracle Oracle contributed to performance in the third quarter due to its transformative growth in cloud infrastructure, with management announcing that Oracle Cloud Infrastructure (OCI) revenue would grow this fiscal year and then increase through fiscal 2030.”
Oracle Corporation - New positionRiverPark Next Century Large Growth FundSeptember 2025
“we added 5 new positions in Q3: o two in technology: MongoDB, Oracle Corp”
Oracle Corporation - September 2025
“Oracle Oracle contributed to performance in the third quarter due to its transformative growth in cloud infrastructure, with management announcing that Oracle Cloud Infrastructure (OCI) revenue would grow this fiscal year and then increase through fiscal 2030.”
Oracle Corporation - August 2025
“The top three absolute contributors to the Fund’s performance in August were TKO, Alphabet and American Express, and the top three absolute detractors were Oracle, Intuit and CME Group.”
Oracle Corporation - June 2025
“A fund holding since inception, Oracle reported strong quarterly financial results that were above management guidance and consensus expectations on most measures, including remaining performance obligation (RPO) bookings, a forward-looking measure of revenue.”
Oracle Corporation - HoldsTitan Wealth Global Blue ChipJune 2025
“Technology was the standout sector, with our holdings returning ~24.5% versus ~14.9% for the index’s tech component. Our concentrated positions in Nvidia, Broadcom, AMD, and Oracle drove nearly half of the strategy’s overall return.”
Oracle Corporation - June 2025
“Oracle Oracle contributed to performance in the second quarter, as the company reported strong quarterly results that highlighted continued strong demand for the company’s OCI infrastructure, sustained growth in the company’s SaaS apps business, and accelerating growth trends in the cloud database segment.”
Oracle Corporation - June 2025
Listed in Mar Vista Global Quality’s reported holdings.
Oracle Corporation - HoldsMacquarie Value FundMarch 2025
“Cloud service provider Oracle Corp. was a primary detractor in the first quarter.”
Oracle Corporation
Also mentioned · 72
These funds discuss Oracle Corporation as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedBeck Mack & OliverOctober 2026
“The large “hyperscalers”—companies that provide computing capacity, such as Google, Amazon, Microsoft, Meta, Oracle, and SpaceX—have collectively issued nearly $250 billion of corporate bonds thus far this year,”
Oracle Corporation - MentionedTroy Multi-Asset StrategyOctober 2026
Named in a table in Troy Multi-Asset Strategy’s letter.
Oracle Corporation - September 2026
“In real life this looks like Nvidia investing in OpenAI, OpenAI committing to Oracle and CoreWeave, and AMD handing OpenAI warrants alongside a chip order are all versions of the same loop [1] .”
Oracle Corporation - MentionedHotchkis & Wiley Value OpportunitiesSeptember 2026
“Uncertainty about how the AI buildout will be financed appeared to grow. Chair Warsh cited competition for capital from the largest AI data center spenders as one reason for higher long-term yields, and in late September Oracle issued a force majeure notice on a large data center project.”
Oracle Corporation - September 2026
“Uncertainty about how the AI buildout will be financed also appeared to grow. Federal Reserve Chair Warsh cited competition for capital from the largest AI data center spenders as one reason for higher long-term yields, and in late September Oracle issued a force majeure notice on a large data center project.”
Oracle Corporation - MentionedARAR FundSeptember 2026
“the prospects of some of the world's largest companies, NVidia, Oracle, Amazon, SK Hynix, Samsung, Micron and TSMC seem to depend on how long this capex boom will last.”
Oracle Corporation - MentionedRewey AM Smid Value StrategySeptember 2026
“We believe a significant portion of this growth is from the boom in data center construction. S&P Global estimates that just the five largest hyperscalers (Microsoft, Alphabet, Amazon, Meta, and Oracle) will spend over $750 billion on data center construction in 2026, roughly equivalent to 2.3% of GDP.”
Oracle Corporation - September 2026
“After a spectacular run, enthusiasm for all things AI paused. The Philadelphia Semiconductor Index declined 11% in the quarter, and 14% from its late June peak. It was down even more in July before recovering in the latter part of the quarter. Uncertainty about how the AI buildout will be financed appeared to grow. Chair Warsh cited competition for capital from the largest AI data center spenders as one reason for higher long-term yields, and in late September Oracle issued a force majeure notice on a large data center project.”
Oracle Corporation - September 2026
“After a spectacular run, enthusiasm for all things AI paused. The Philadelphia Semiconductor Index declined 11% in the quarter, and 14% from its late June peak. It was down even more in July before recovering in the latter part of the quarter. Semiconductor stocks in the Russell Midcap Value fared worse, declining 21%. Uncertainty about how the AI buildout will be financed appeared to grow. Chair Warsh cited competition for capital from the largest AI data center spenders as one reason for higher long-term yields, and in late September Oracle issued a force majeure notice on a large data center project.”
Oracle Corporation - September 2026
“After a spectacular run, enthusiasm for all things AI paused. The Philadelphia Semiconductor Index declined 11% in the quarter, and 14% from its late June peak. It was down even more in July before recovering in the latter part of the quarter. Uncertainty about how the AI buildout will be financed appeared to grow. Chair Warsh cited competition for capital from the largest AI data center spenders as one reason for higher long-term yields, and in late September Oracle issued a force majeure notice on a large data center project.”
Oracle Corporation - September 2026
“and in late September Oracle issued a force majeure notice on a large data center project.”
Oracle Corporation - September 2026
“In real life this looks like Nvidia investing in OpenAI, OpenAI committing to Oracle and CoreWeave, and AMD handing OpenAI warrants alongside a chip order are all versions of the same loop [1] .”
Oracle Corporation - MentionedO’Keefe Stevens AdvisorySeptember 2026
Named in a table in O’Keefe Stevens Advisory’s letter.
Oracle Corporation - MentionedThird Point Offshore Fund, Ltd.September 2026
“The strain is now showing up in credit, not just equities: several data-center financings in the high yield and leveraged loan markets carry double-digit yields, top-rated data-center ABS that priced below 5% in January yields closer to 7% today, and CDS on Oracle, Meta, and Nvidia hit record levels in late October.”
Oracle Corporation - MentionedCDT Capital Investment StrategyAugust 2026
“while back in July Nikkei research suggested that $1.65T of debt is now sitting on and off the books of Meta, Oracle, Amazon, Microsoft and Alphabet (Google).”
Oracle Corporation - MentionedGuinness Global Innovators FundAugust 2026
“Over July, these fears have only grown as hyperscaler capex expectations continued to move higher. Expected FY26 capex by Amazon, Alphabet, Microsoft, Meta and Oracle combined has risen from around $536bn in December to $784bn by July, an increase of almost 50% in just seven months.”
Oracle Corporation - MentionedGuinness Global Quality Mid Cap FundAugust 2026
“Expected FY26 capex by Amazon, Alphabet, Microsoft, Meta and Oracle combined has risen from around $536bn in December to $784bn by July, an increase of almost 50% in just seven months.”
Oracle Corporation - MentionedCDT CapitalAugust 2026
“while back in July Nikkei research suggested that $1.65T of debt is now sitting on and off the books of Meta, Oracle, Amazon, Microsoft and Alphabet (Google).”
Oracle Corporation - MentionedGuinness Global Equity Income FundAugust 2026
“Over July, these fears have only grown as hyperscaler capex expectations continued to move higher. Expected FY26 capex by Amazon, Alphabet, Microsoft, Meta and Oracle combined has risen from around $536bn in December to $784bn by July, an increase of almost 50% in just”
Oracle Corporation - MentionedGuinness Global Quality Mid Cap FundJuly 2026
“On the debt side, a similar pattern has emerged. Companies like Meta, Alphabet, and Oracle, none of which had issued much debt in recent years, have all turned to bond markets to help fund AI capital expenditure. Meta priced a $30 billion bond deal in October, its largest in years, while Oracle has been the most aggressive borrower of the group, raising $43 billion in debt over the past year with more planned.”
Oracle Corporation - MentionedGuinness Global Innovators FundJuly 2026
“On the debt side, a similar pattern has emerged. Companies like Meta, Alphabet, and Oracle, none of which had issued much debt in recent years, have all turned to bond markets to help fund AI capital expenditure. Meta priced a $30 billion bond deal in October, its largest in years, while Oracle has been the most aggressive borrower of the group, raising $43 billion in debt over the past year and planning more.”
Oracle Corporation - MentionedGuinness Global Equity Income FundJuly 2026
“Hyperscaler capex The current capex cycle is clearly intertwined with a sharp increase in semiconductor demand, and we believe continued hyperscaler spending is a key indicator that the AI infrastructure build-out is still underway. This spending is effectively funding the next phase of the data centre build-out. As hyperscalers scale both training and, increasingly, inference workloads, their willingness to keep lifting capex expectations supports the view that this semiconductor cycle could prove longer lasting and more structurally driven than previous upcycles. In each earnings cycle, the major hyperscalers have generally revised capex guidance higher and the direction of travel is striking. Expected FY26 hyperscaler capex has risen from around $298bn in December 2024 to $758bn by the end of the second quarter this year, more than doubling as Amazon, Alphabet, Microsoft, Meta and Oracle continue to commit capital to AI compute capacity.”
Oracle Corporation - MentionedCDT Capital VNAV StrategyJuly 2026
“The story of skepticism is also showing up in the bond market. Oracle, which has committed to an estimated $350 to $450B in capital to the AI build out has seen its credit default swaps or the insurance investors can take out on the company’s bonds if the company is unable to pay its obligations increase exponentially this year – exceeding levels during the Great Financial Crisis. Source: Bloomberg”
Oracle Corporation - MentionedCDT Capital VNAVJuly 2026
“The story of skepticism is also showing up in the bond market. Oracle, which has committed to an estimated $350 to $450B in capital to the AI build out has seen its credit default swaps or the insurance investors can take out on the company’s bonds if the company is unable to pay its obligations increase exponentially this year – exceeding levels during the Great Financial Crisis. Source: Bloomberg”
Oracle Corporation - MentionedBronte Capital Amalthea FundJuly 2026
“In Q1 2026, Meta, Alphabet, Microsoft, Amazon, and Oracle spent over $100B more in CapEx than they recognised in depreciation.”
Oracle Corporation - July 2026
“Amazon, Meta, Nvidia, Google, Oracle, and SpaceX have issued approximately $182 billion in investment-grade bonds in 2026, roughly 15% of all US corporate debt issuance3.”
Oracle Corporation - June 2026
“Combined AI capex: Microsoft, Alphabet, Meta, Amazon, Oracle.”
Oracle Corporation - MentionedDeep Sail Capital PartnersJune 2026
“The company serves enterprise AI companies and the hyperscalers, including Google, Meta, Dell, HPE, IBM, Juniper Networks, and Oracle Corporation, among others.”
Oracle Corporation - MentionedDistillate CapitalJune 2026
“Letter Summary Artificial Intelligence enthusiasm and uncertainty whipsawed markets and pushed valuations to extraordinary levels during the last quarter. Hyperscalers (Alphabet, Amazon, Meta, Microsoft, & Oracle) lagged amid concerns about returns on their enormous investments, while semiconductor and tech equipment companies benefiting from this spending surged.”
Oracle Corporation - MentionedNinepoint Partners Mid‑Year OutlookJune 2026
“The AI Boom: From Buildout to Monetization The AI spending cycle continued to accelerate in the first half of 2026. Hyperscaler cloud capital expenditure has been growing at roughly 90% year-over-year, and the aggregate run rate is now approaching figures that dwarf every comparable infrastructure buildout in American economic history.1,2 What distinguishes this period from earlier phases of AI enthusiasm is evidence that the spending is generating revenue. The cloud RPO — remaining performance obligation, essentially the contracted future revenue backlog — for AWS, Microsoft Azure, Google Cloud, and Oracle crossed $2 trillion in the first quarter of 2026, up approximately 175% year-over-year.”
Oracle Corporation - MentionedGuinness Global Equity Income FundJune 2026
“In each earnings cycle, the major hyperscalers have generally revised capex guidance higher, with Oracle the notable exception in the most recent update.”
Oracle Corporation - MentionedMiddle Coast InvestingJune 2026
“These are, for now, the top of the line in the AI value chain: Alphabet (GOOG) , Microsoft (MSFT) , Amazon (AMZN) , Meta Platforms (META), plus OpenAI and Anthropic once they become public, and then a few companies on the fringes (Oracle (ORCL), SpaceX (SPCX) maybe, Alibaba (BABA), Tencent (TCEHY).”
Oracle Corporation - MentionedHotchkis & Wiley Value OpportunitiesJune 2026
“The big spenders are Alphabet, Amazon, Meta, Microsoft, Oracle, CoreWeave, Nebius, and SpaceX.”
Oracle Corporation - June 2026
“The big spenders are Alphabet, Amazon, Meta, Microsoft, Oracle, CoreWeave, Nebius, and SpaceX.”
Oracle Corporation - June 2026
“The big spenders are Alphabet, Amazon, Meta, Microsoft, Oracle, CoreWeave, Nebius, and SpaceX.”
Oracle Corporation - June 2026
“Over the last five decades SAP has become the leading provider of ERP software for many of the world’s largest, most supply chain-intensive companies. SAP counts 98 of the Fortune 100 as customers, with approximately 70% of revenue derived from large enterprises. Across much of this market the company operates in a duopoly with Oracle, although in certain niches it is the only practical solution.”
Oracle Corporation - MentionedPacker & Co Investigator TrustJune 2026
“AI Capital Expenditure Boom (Google, Microsoft, Amazon, Meta & Oracle) Investors are on board, paying handsome prices for America’s tech giants.”
Oracle Corporation - June 2026
“Not surprisingly, we’re seeing huge fundraising efforts by tech giants to take advantage of the optimism of investors. Massive IPOs either completed or on tap from AI darlings like Space Exploration Technologies, Open AI and Anthropic, plus chunky secondary stock and/or debt offerings from Alphabet, Amazon, Nvidia, Oracle and others may eventually drain what has been a very deep pool of investor liquidity.”
Oracle Corporation - MentionedCDT Capital (CDT)June 2026
“It is clear that there is a fuzzy vision for an AI strategy at Meta, but the lack of leadership and execution has left it permanently behind in the race. That is likely why the firm is starting to pivot from its position as AI developer to hyperscaler. In yet another indirect omission of failure, rumors this week that Meta is exploring building a cloud business to rival the likes of Microsoft, Oracle and Amazon (Article).”
Oracle Corporation - MentionedCDT CapitalJune 2026
“The Meta Investment Reckoning: Meta is at it again. After squandering approximately -$80B on the metaverse, the firm is parlaying that failure by once again squandering money on AI. This time the stakes are reaching new highs. In 2026, AI related capital expenditures are expected to reach approximately $125– 145 billion, yet there is no verifiable evidence that any of this spend is yielding results. In fact, there is mounting and damning evidence to the contrary. Meta’s Llama frontier AI models are not at the frontier of the AI race (AI Leaderboard) and external adoption has been extremely disappointing for shareholders fronting the multi hundred-billion-dollar bill. Even Meta’s own employees do not use the models that they create! In a somewhat confusing and embarrassing sign, Meta, which is supposedly creating the best AI models in the world, was recently told by Google that it would be restricting its prolific use of its AI model, Gemini (Article). This must be the most damning evidence for a corporate failure possibly in American history, even Meta does not use its own models. That said if you need more to chew on look at the never- ending reports of internal turmoil coming out of the company (Article). It is clear that there is a fuzzy vision for an AI strategy at Meta, but the lack of leadership and execution has left it permanently behind in the race. That is likely why the firm is starting to pivot from its position as AI developer to hyperscaler. In yet another indirect omission of failure, rumors this week that Meta is exploring building a cloud business to rival the likes of Microsoft, Oracle and Amazon (Article).”
Oracle Corporation - MentionedHorizon KineticsJune 2026
“Five companies have announced plans to spend a combined $720 billion on such expansion— Amazon ($198 billion); Microsoft ($146 billion), Alphabet ($186 billion); Meta ($132 billion); and Oracle ($56 billion). These 2026 forecasts have been revised upward by more than 25% in just five months.”
Oracle Corporation - MentionedSaltLight Capital Co‑Investor LetterJune 2026
“a company the market had once valued at two hundred billion dollars was taken over by Oracle in 2009, for seven billion.”
Oracle Corporation - MentionedHamlin Capital Management Equity and High Yield Municipal Bond StrategiesJune 2026
“We think it is noteworthy that several large companies in the AI ecosystem raised capital this quarter: Google, Meta, and Oracle announced large new equity and debt issuances, and SpaceX went public in June with much fanfare.”
Oracle Corporation - MentionedNexus Investment Management ULCJune 2026
“Large U.S. technology companies, including Amazon, Alphabet, Microsoft, Meta, Oracle, and now SpaceX, issued approximately US$122 billion of bonds in 2025, and by the second quarter, 2026 had already exceeded the prior year's total.”
Oracle Corporation - June 2026
“During the quarter, that value proposition translated into a landmark agreement with Oracle for up to 2.8 gigawatts of”
Oracle Corporation - MentionedFirst Eagle Investments 2Q26 Market Overview: The Cost of CredibilityJune 2026
“The magnitude of capital expenditures by hyperscalers—companies like Amazon, Apple, Meta, Microsoft and Oracle that operate massive data centers supporting cloud computing—has been another source of support for investor sentiment.”
Oracle Corporation - MentionedFirst Eagle Investments Small Cap Market OverviewJune 2026
“companies like Amazon, Apple, Meta, Microsoft and Oracle that operate massive data centers supporting cloud computing”
Oracle Corporation - MentionedAndrew Hill AHIA Portfolio StrategyJune 2026
“On the other hand, Oracle (ORCL) (not held in client accounts), has been very aggressive in AI investment by borrowing billions, but lacks the profit margins enjoyed by other mega software companies.”
Oracle Corporation - MentionedCopeland Capital Management Dividend Growth StrategyJune 2026
“Over the last two decades, leading tech companies from Oracle to Microsoft to Alphabet steadily compounded free cash flow (FCF) and built huge net cash positions despite returning vast amounts to shareholders.”
Oracle Corporation - MentionedCopeland Capital Management Dividend GrowthJune 2026
“Over the last two decades, leading tech companies from Oracle to Microsoft to Alphabet steadily compounded free cash flow (FCF) and built huge net cash positions despite returning vast amounts to shareholders.”
Oracle Corporation - MentionedScharf Investments Quality Value StrategyJune 2026
“As a result, the top 5 hyperscalers (Amazon, Microsoft, Google, Meta, and Oracle) are expected to invest ~$6tn through 2030 on AI infrastructure.”
Oracle Corporation - MentionedDistillate Capital Multi-StrategyJune 2026
“Artificial Intelligence enthusiasm and uncertainty whipsawed markets and pushed valuations to extraordinary levels during the last quarter. Hyperscalers (Alphabet, Amazon, Meta, Microsoft, & Oracle) lagged amid concerns about returns on their enormous investments, while semiconductor and tech equipment companies benefiting from this spending surged.”
Oracle Corporation - MentionedJAG Capital ManagementJune 2026
“Figure 3. Big Five hyperscaler US bond issuance: the 2020–2024 average versus 2025 actual versus the 2026 forecast. Sources: BofA Securities via Reuters and Mellon Investments (Dec 2025); BofA Global Research 2026 forecast (Mar 2026). Big Five = Amazon, Microsoft, Alphabet, Meta, Oracle. 2020–2024 average issuance was ~$28B per year.”
Oracle Corporation - MentionedAttitude Sherpa, FIJune 2026
“Allow me to do so again thinking of the most recent readers: Sun Microsystems, in the United States, came to trade at $64, which meant 10 times its annual sales. Nine years later the company was acquired by Oracle in exchange for 9.5 dollars per share.”
Oracle Corporation - May 2026
“We guessed that executive option plans (buy backs) would take precedence over headcount and thus we expected lay-offs - tick:- see Meta, Atlassian, Oracle, Amazon amongst others.”
Oracle Corporation - MentionedHennessy Japan Small Cap FundMay 2026
“Following Oracle’s announcement of an expanded partnership with Google Cloud, among other developments, market attention turned to the expansion of AI data centers.”
Oracle Corporation - March 2026
“Despite the broad sell-off among large-cap growth stocks during the first quarter, three portfolio holdings demonstrated double-digit price appreciation – all within the semiconductor area. Consensus spend expectations for data center infrastructure continue to expand rapidly, particularly among the hyperscalers. During the first quarter of 2026, consensus estimates for 2026 and 2027 capital expenditures among Amazon (AMZN), Microsoft (MSFT), Meta (META), Alphabet (GOOGL) and Oracle(ORCL) cumulatively increased by 25% and 23% respectively, largely to support data center demand – inclusive of chips and related equipment.”
Oracle Corporation - March 2026
“SAP is in the first category - software. We owned it a number of years ago. We also owned its primary competitor, Oracle.”
Oracle Corporation - March 2026
“Last quarter we argued the widening in Oracle CDS had been misread as evidence of AI-capex capital withdrawal; this raise was the confirmation.”
Oracle Corporation - MentionedBlackstoneJanuary 2026
“4 Source: MSFT, AWS, Google, Meta per Morgan Stanley Equity Research and publicly reported figures. Oracle per RBC Equity Research and publicly reported figures, as of December 31, 2024.”
Oracle Corporation - MentionedMondrian Investment Partners International EquityDecember 2025
“Shifting away from financials, another key driver of recent equity market performance has been the rapid acceleration of investment in artificial intelligence. Nevertheless, the second half of 2025 may come to be seen as having marked a turning point for AI investing. A surge of headline partnership agreements signaled a shift in how leading model developers finance their growth; for these developers, rather than raising equity themselves, many recent deals now resemble vendor-financing arrangements. This shift is rooted in a simple dynamic: scaling laws continue to hold, and maintaining frontier performance now requires capital on a scale the tech industry has never seen. Monetization is growing rapidly by historical standards, yet still falls far short of funding the investment needed to stay competitive. The result is a widening gap between commercial revenue and the capital intensity of cutting-edge model development, prompting companies to seek new financing structures through strategic partnerships that are increasingly debt-funded. Two distinct groups define the AI landscape today. Hyperscalers are funding the build-out from free cash flow, which gives them the ability to scale models, infrastructure and distribution without balance sheet strain. By contrast, AI startups have been striking deals of extraordinary scale and uncertainty with some of the largest IT companies in the industry in order to meet the coming infrastructure demands. It has been reported that OpenAI, for example, currently loss-making, has agreed to pay $300bn in a five-year contract to buy data center capacity from Oracle, with little certainty the deal will ever be fully consummated.”
Oracle Corporation - MentionedPartners CapitalDecember 2025
“the entry of less profitable players such as OpenAI and Oracle, who will be heavily reliant on private and public credit markets as well as vendor financing for their investment, also raises the risk profile.”
Oracle Corporation - MentionedPolen US SMID Cap GrowthDecember 2025
“Bloom Energy is a provider of solid oxide fuel cells that play a critical role in delivering clean, reliable, “always on” power at scale. AI data centers require an enormous amount of power, and one of the key challenges to date has been the inability of power grids to supply the necessary electricity to meet the constant and growing demands from AI workloads. Bloom's “Energy Server” fuel cells help address this issue, generating cost-efficient, reliable power onsite, converting fuels like natural gas, biogas and hydrogen into electricity without combustion. During the quarter, the company announced a massive partnership with Oracle to deliver onsite power to select data centers that caught investors’ attention and spurred a wave of analyst earnings revisions.”
Oracle Corporation - December 2025
“Artificial Intelligence In November 2022, OpenAI launched ChatGPT to enormous fanfare reaching 100 million users in just two months and projected to reach one billion users by February 2026, achieving that milestone ten years faster than Google did with its search engine. For the first time, a conversation with a machine has become indistinguishable from one with a human, heralding the advent of artificial intelligence (AI). The Industrial Revolution brought on the mechanisation of production and an explosion of goods. AI promises to commoditise intelligence and, when combined with robotics, has the potential to disrupt almost all industries. For the largest software companies who have built their businesses around intangible assets, AI represents an existential threat. Larry Page, a co-founder of Alphabet (formerly Google), told colleagues he would be ‘happy to go bankrupt rather than lose this race’ for AI supremacy. Capital expenditures (capex) related to AI have surged with the largest US hyperscalers (Alphabet, Amazon, Meta, Microsoft and Oracle) expected to spend over $500bn in related capex in 2026, more than twice their capex spend pre the launch of ChatGPT. In addition, the governments of the two largest economies, China and the United States, have made it clear that winning the battle for AI is essential for the security of their nations. Comparisons to previous infrastructure booms and busts, such as the railway and internet build outs are increasingly being made; indeed, there are already worrying signs of circular vendor financing (OpenAI), off balance sheet financing (Oracle) and a lack of end user revenue.”
Oracle Corporation - MentionedBlackrockDecember 2025
“Source: BlackRock Fundamental Equities, with data from FactSet as of Nov. 24, 2025. Chart shows capex spending and spending intentions of the five largest U.S. hyperscalers (Amazon, Meta, Alphabet, Microsoft and Oracle).”
Oracle Corporation - MentionedMondrian Investment Partners Global EquityDecember 2025
“Shifting away from financials, another key driver of recent equity market performance has been the rapid acceleration of investment in artificial intelligence. Nevertheless, the second half of 2025 may come to be seen as having marked a turning point for AI investing. A surge of headline partnership agreements signaled a shift in how leading model developers finance their growth; for these developers, rather than raising equity themselves, many recent deals now resemble vendor-financing arrangements. This shift is rooted in a simple dynamic: scaling laws continue to hold, and maintaining frontier performance now requires capital on a scale the tech industry has never seen. Monetization is growing rapidly by historical standards, yet still falls far short of funding the investment needed to stay competitive. The result is a widening gap between commercial revenue and the capital intensity of cutting-edge model development, prompting companies to seek new financing structures through strategic partnerships that are increasingly debt-funded. Two distinct groups define the AI landscape today. Hyperscalers are funding the build-out from free cash flow, which gives them the ability to scale models, infrastructure and distribution without balance sheet strain. By contrast, AI startups have been striking deals of extraordinary scale and uncertainty with some of the largest IT companies in the industry in order to meet the coming infrastructure demands. It has been reported that OpenAI, for example, currently loss-making, has agreed to pay $300bn in a five-year contract to buy data center capacity from Oracle, with little certainty the deal will ever be fully consummated.”
Oracle Corporation - MentionedPolen US Small Cap GrowthDecember 2025
“Bloom Energy is a provider of solid oxide fuel cells that play a critical role in delivering clean, reliable, “always on” power at scale. AI data centers require an enormous amount of power and one of the key challenges to date has been the inability of power grids to supply the necessary electricity to meet the constant and growing demands from AI workloads. Bloom's “Energy Server” fuel cells help address this issue, generating cost-efficient, reliable power onsite, converting fuels like natural gas, biogas and hydrogen into electricity without combustion. During the quarter, the company announced a massive partnership with Oracle to deliver onsite power to select data centers that caught investors’ attention and spurred a wave of analyst earnings revisions.”
Oracle Corporation - MentionedManole Capital Management Investor NewsletterSeptember 2025
“For example, Oracle has booked a restructuring charge every year for the last five years.”
Oracle Corporation - September 2025
“Established cloud companies are spending aggressively, but it is the behaviour of new entrants like Oracle and CoreWeave that raises the greatest concern.”
Oracle Corporation - September 2025
“OpenAI, for instance, is aiming to operate on $1 trillion of additional AI infrastructure by the end of this decade. To support this ambitious goal, the company recently signed a $300 billion multi-year contract with Oracle to provide infrastructure services, primarily powered by NVIDIA (NVDA) chips.”
Oracle Corporation - MentionedJupiter AMSeptember 2025
“Oracle’s eye-opening c.40% intraday move on the back of some AI-related fairy dust, in our view, making the headlines amongst others.”
Oracle Corporation - MentionedHeadwaters CapitalSeptember 2025
“The catalyst for the September AI trade was Oracle’s announcement of a 5-year contract with OpenAI for $300B (implying annual contract value of $60B) to host the company’s LLMs at Oracle data centers beginning in 2027.”
Oracle Corporation
Fund coverage · 6 theses
- Oakmark Fixed IncomeJune 2026
Oracle’s enterprise relationships, proprietary software, recurring cash flows and mission-critical data assets position it to benefit across different AI outcomes.
Read the full thesis - Emerald Growth Equity StrategyMarch 2026
Oracle is backed by a massive AI-driven backlog with contractual visibility and a perceived margin of safety.
Read the full thesis - Emerald Growth Equity StrategyDecember 2025
Oracle is an enterprise software and cloud infrastructure provider with strengths in data-intensive workloads and an attractive valuation that offsets higher leverage from AI buildout.
Read the full thesis - Sands Capital Select GrowthSeptember 2025
Oracle is emerging as a leader in AI infrastructure, with significant commitments from major AI companies signaling its shift to a top provider in the cloud market.
Read the full thesis - Clearbridge Large Cap Growth StrategySeptember 2025
Oracle is expected to grow its market share and profitability in cloud infrastructure for AI workloads due to its competitive data center architecture.
Read the full thesis - Aristotle Large Cap GrowthMarch 2025
Oracle is well-positioned for strong revenue growth driven by its cloud infrastructure and AI computing needs, along with positive outcomes from its Cerner business.
Read the full thesis
Read every full thesis on Oracle Corporation
Read all 6 theses in full, with each fund's reasoning, and get unlimited access to the archive.
View plans→Share this ledger