Oracle spent $55.7B in capex in FY2026. Up from $21.2B the year before. FY2027… · @Eyescool · TwKit

@Eyescool

Oracle spent $55.7B in capex in FY2026. Up from $21.2B the year before. FY2027 plan: up to $95B gross. The trick: customers are paying for it upfront. $11.36B in customer prepayments in one quarter. Net FY2027 capex: ~$70B. The engine: – Cloud infra revenue +121% to $7.4B – $664B backlog (remaining performance obligations) – GPU utilization: 97.9%. Nothing is idle. – $300B OpenAI Stargate deal, ~7 GW planned The cost: – S&P downgrade, on the cusp of junk – Free cash flow: -$5.4B in the quarter (Q1 FY2027: operating cash flow $23.1B minus capex $28.5B) – Stock down ~57% from its 52-week high Oracle is the most levered AI-infrastructure bet in tech. If the OpenAI contracts pay: genius. If they don't: a balance sheet problem. Is customer prepayment a new funding model — or circular financing with extra steps? $ORCL #Oracle #Stargate #AIInfrastructure

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