甲骨文收涨近36%，创1992年以来最大单日涨幅，总市值一度突破9500亿美元

Core Viewpoint - Oracle's stock surged significantly, reaching a market capitalization of $950 billion, making it the 10th largest company in the S&P 500 index, driven by aggressive growth expectations in its cloud business and substantial contracts with leading AI companies [1][3][5]. Financial Performance - Oracle's stock price increased by 35.91% on a single day, marking its largest daily gain since 1992, with a market cap increase of approximately $270 billion [3]. - The company's stock has risen nearly 98% year-to-date [3]. Remaining Performance Obligations (RPO) - Oracle reported a staggering 359% year-over-year increase in Remaining Performance Obligations (RPO), reaching $455 billion, significantly exceeding market expectations of $180 billion [5][6]. - The RPO growth was primarily attributed to large-scale cloud contracts with top AI firms such as OpenAI, xAI, and Meta [5]. Cloud Infrastructure Revenue Projections - Oracle anticipates its cloud infrastructure revenue to reach $18 billion in fiscal year 2026, with projections of $32 billion, $73 billion, $114 billion, and $144 billion in the subsequent four fiscal years [6]. - Analysts expressed shock at these projections, viewing them as a major validation of AI investment logic [6]. Analyst Ratings and Market Sentiment - Analysts have upgraded Oracle's stock rating to "buy," with target prices raised from $240 to $335 [7][8]. - The company's strong order backlog has reinforced its position as a key player in AI infrastructure [8]. Concerns and Challenges - Some analysts raised concerns about Oracle's ability to fulfill the increased RPO in the context of current capacity constraints [9]. - The need for capital to expand capacity may become a focal point in future discussions [9]. Strategic Focus on AI - Oracle's chairman and CTO emphasized that AI is fundamentally transforming the company, with a focus on capturing the AI inference market, which is expected to be larger than the AI training market [10].