Oracle is projecting major growth by 2030, with the company announcing Thursday that it expects cloud infrastructure revenue to reach $166 billion in fiscal 2030—accounting for nearly 75% of its total sales.
Chief Executive Officer Clay Magouyrk gave the cloud infrastructure prediction during a meeting with financial analysts, where he said new bookings were coming in from a range of customers, not just OpenAI.
Oracle Corporation remains a major force in enterprise technology, with revenue streams that extend far beyond its recent high-profile partnership with OpenAI. While the OpenAI deal and related AI initiatives have drawn significant attention, Oracle’s core business continues to rely on established areas such as cloud infrastructure, enterprise software, and database services.
A major driver of Oracle’s revenue is its cloud services and license support division, which recently generated more than $10 billion in a single quarter, including $11.7 billion in the fourth quarter of fiscal 2025. This includes subscriptions to Oracle Cloud Infrastructure (OCI), which recorded about 14% year-over-year growth in the same quarter, driven by demand for storage, compute, and networking. Another strong contributor is Oracle’s software segment, which includes enterprise applications such as NetSuite, Fusion ERP, and human capital management systems, producing billions in revenue each quarter.
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Oracle also continues to earn revenue from on-premises licensing and support, although this segment is gradually declining as clients transition to cloud-based solutions. Its database services, a traditional strength, have evolved with the launch of cloud products such as the Autonomous Database, which has seen strong growth of about 26% in recent periods.
In addition to product and cloud subscriptions, Oracle generates income from professional services, consulting, and customer support, which remain steady contributors. The company also reported a $138 billion backlog of remaining performance obligations in 2025, indicating strong future revenue from long-term contracts already in place.
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Magouyrk said that during a single 30-day period during the previous quarter, Oracle Cloud Infrastructure, the company’s cloud unit, had booked $65 billion in new commitments, which included a $20 billion deal with Meta Platforms and he also said that the newest $65 billion of bookings came from customers other than OpenAI.
“I know some people are questioning, ‘Hey, is it just OpenAI?’ The reality is, we think OpenAI is a great customer, but we have many customers,” Magouyrk said. “This is literally seven deals, four customers, all of them other than OpenAI.”
While the OpenAI partnership has boosted visibility and momentum, Oracle’s growth continues to be driven by a broad base of customers across industries, underscoring its strength in securing large deals and maintaining long-term contracts. This diversified approach not only stabilizes its revenue streams but also positions Oracle to compete effectively in the increasingly competitive cloud and AI markets.