甲骨文和Open AI联合吹的牛皮，点燃了资本市场？

Core Insights - Oracle Corporation experienced a dramatic stock price surge, with an increase of over 42% in a single day, pushing its market capitalization to unprecedented heights [1][6] - The surge was primarily driven by a historic cloud services contract with OpenAI, rather than a revolutionary software release or exceptional quarterly earnings [3][4] - Oracle's remaining performance obligations (RPO) skyrocketed by 359% year-over-year to $455 billion, significantly exceeding market expectations [4][8] Financial Performance - For Q1 of fiscal year 2026, Oracle reported total revenue of $14.9 billion, a 12% year-over-year increase, but slightly below analyst expectations of $15.04 billion [4] - Adjusted earnings per share were $1.47, also falling short of the anticipated $1.48 [4] - Despite the underwhelming earnings report, the RPO figure captured market attention and led to a significant stock price increase [4][6] Market Reaction - Following the earnings report, Oracle's stock price rose by 35.95%, marking its best single-day performance since 1992, adding $244 billion to its market value [6] - The stock price peaked at $328.33 before settling around $292, resulting in a weekly gain of over 27% [6] Strategic Implications - The partnership with OpenAI, involving a $300 billion cloud services agreement over five years, represents a pivotal moment for Oracle's cloud business transformation [9][11] - This contract is seen as a response to the increasing demand for computational power in the AI sector, positioning Oracle as a key player in the AI infrastructure market [11][12] - Oracle's strategy of becoming a neutral "AI supermarket" allows it to attract various AI companies without competing directly with them [14] Industry Trends - The deal signifies a shift in how tech companies are evaluated, with a focus on computational infrastructure rather than traditional software metrics [8] - The AI infrastructure market is entering a phase of diversification, as companies seek multiple suppliers to mitigate risks [14] - Concerns have been raised about the sustainability of such large contracts, particularly regarding OpenAI's financial capacity and Oracle's ability to deliver on the infrastructure requirements [13][16]