国内AI产业链或被低估？甲骨文4550亿美元订单震撼市场，股价一度飙涨超40%

Core Insights - Oracle reported a significant increase in its Remaining Performance Obligations (RPO), reaching $455 billion, a year-on-year increase of 359% [1][2] - The surge in RPO indicates strong demand for AI infrastructure and a shortage of inference computing power, suggesting large-scale AI deployment [1][2] - Oracle's stock price jumped over 40% following the earnings announcement, leading to a market capitalization exceeding $930 billion [1] Financial Performance - For Q1 of FY2026, Oracle's total revenue was $14.9 billion, a 12% year-on-year increase, with non-GAAP net profit at $4.3 billion, up 8% [2] - The company signed four contracts worth billions with three different clients, contributing to the substantial RPO growth [2] - Oracle anticipates its cloud infrastructure revenue will grow by 77% year-on-year, reaching $18 billion in FY2026, with projections for future years indicating continued growth [2][3] Market Outlook - The AI inference market is currently larger than the AI training market, with Oracle positioned to leverage its leadership in enterprise databases to meet this demand [2] - The company plans to increase capital expenditures to approximately $35 billion in FY2026, focusing on revenue-generating data center equipment [3] - The AI industry is expected to see sustained growth, with hardware benefiting first, as evidenced by the strong performance of AI-related stocks in the A-share market [4] Industry Developments - The Chinese government has initiated actions to integrate AI across various sectors, indicating a shift towards large-scale and ecosystem-based AI development [5] - AI technology is expected to penetrate various applications, particularly in industrial sectors, enhancing processes and overall manufacturing standards [5][6] - Collaborations between major companies and state-owned enterprises are deepening, integrating AI into core business functions across industries such as energy, healthcare, and agriculture [6]