Oracle(US:ORCL) Sou Hu Cai Jing·2025-09-12 03:11Core Viewpoint - Oracle has made a significant comeback with its stock price surging by 36% in a single day, leading to an increase in market capitalization by nearly 1.8 trillion RMB over two days, driven by unexpected growth in cloud business revenue and substantial contracts from AI companies [1] Group 1: Financial Performance - Oracle's reported "Remaining Performance Obligations" (RPO) skyrocketed from the market expectation of $178 billion to $455 billion, more than doubling [2] - The CEO announced four recent AI contracts, each worth several billion dollars, indicating that RPO will soon exceed $500 billion [2] - A landmark 5-year contract with OpenAI worth $300 billion for computing power was signed, marking the largest cloud service order in history [2] Group 2: Market Reaction - Following Oracle's announcements, the A-share market reacted positively, with the semiconductor and computing sectors experiencing significant gains on September 11 and 12 [2] - Semiconductor equipment ETF (561980) and cloud computing ETF (159890) surged by 5.94% and 6.92% respectively, with further increases observed in subsequent trading sessions [2] Group 3: Industry Insights - The most profitable segment in the AI computing chain is the chip sector, with Nvidia's data center revenue reaching $41.1 billion and a gross margin of 72.7% [4] - Companies like Cambrian and Haiguang are also experiencing rapid growth, indicating a clear division in profitability based on technological barriers [4] - The midstream segment, consisting of cloud providers and data centers, focuses on efficiency and energy savings, with Oracle, AWS, and Azure as key players [7] Group 4: Future Market Potential - The AI computing market is transitioning from speculative trading to performance realization, with IDC predicting that China's intelligent computing scale will exceed 2781 EFLOPS by 2028 [8] - Investment strategies should focus on companies with genuine technology, orders, and ecosystems, as represented by the semiconductor equipment ETF and cloud computing ETF [8]