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Dec 11, 2025 4:00 AM

Oracle's Backlog Soars To $523 Billion — Company Adds $15 Billion To 2026 CapEx To Keep Up

Oracle Corp. (NYSE:ORCL) is doubling down on its artificial intelligence (AI) ambitions, forecasting a $15 billion increase in capital expenditures for fiscal 2026 to fulfill a record-breaking $523 billion backlog, along with an additional $4 billion in sales by fiscal 2027 amid faster backlog conversion.

The Cost Of Ambition

The database giant reported a mixed second quarter, beating earnings estimates with a 54% jump in adjusted EPS to $2.26, but missing revenue expectations at $16.06 billion.

However, the focal point for Wall Street was the company's remaining performance obligations (RPO), which exploded to $523 billion—up 433% year-over-year.

To convert these contracts into revenue, Oracle must rapidly build its infrastructure. Principal Financial Officer Doug Caring announced that fiscal 2026 CapEx would be approximately $15 billion higher than previously forecasted.

“We will pursue further business expansion only when it meets our profitability requirements,” Caring stated, noting that the backlog includes massive contracts with AI leaders like Nvidia Corp. (NASDAQ:NVDA) and Meta Platforms ...

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