Oracle's backlog was the centerpiece of the results. CEO Safra Catz revealed that the company's remaining performance obligation (RPO) -- a backlog of future sales -- rose to $553 billion, surging 325% year over year. Driving the increase was several "large-scale AI contracts" signed during the quarter.

Oracle CEO Clayton Magouyrk said on an earnings call the company's model of having customers provide data chips for new data center builds is working.

Oracle Corp. shares soared in early trading after the software and cloud services company reported strong sales and issued an outlook that suggests little letup in demand for AI computing.

Oracle has added Cerebras AI chips to its cloud infrastructure, alongside Nvidia and AMD hardware. Oracle, CEO Clay Magouyrk, said that Oracle is utilising these chips to deliver AI workloads

Oracle stock rose on Wednesday as investors breathed a sigh of relief on strong Q3 results and an upgraded fiscal 2027 outlook.

Oracle Corp (NYSE:ORCL, XETRA:ORC) shares jumped nearly 10% in Wednesday trading following a fiscal third-quarter report that highlighted accelerating cloud growth and expanding AI infrastructure adoption.

Discover how Oracle's earnings report could influence its full-year 2026 guidance and long-term growth strategy. Read more here.

Oracle on Tuesday predicted that the AI data ​center boom will power its revenue above Wall Street estimates well into 2027, sending its shares up 8.3% in extended trading.

Cloud and AI growth beat expectations while investors grow less worried about Oracle’s debt plans and software disruption.

Oracle stock is down 50% from September highs, with Q3 earnings offering a chance to rebuild momentum.