Larry Ellison moved a lot closer to being the world's richest man on Tuesday after Oracle saw a huge leap in its stock price, the largest single day's improvement in decades, thanks to a pipeline stuffed full of big deals.

Big Red released financial results that analysts viewed as fairly normal for the first quarter of the 2026 fiscal year. Profits were flat at $2.93 billion for the quarter and its earnings per share were lower than the same quarter last year.

But what's sent the stock price skyrocketing nearly 30 percent after normal trading hours on Tuesday is anticipated future earnings. CEO Safra Catz has reported that the company is due $455 billion in remaining performance obligations (RPOs) - customer contracts signed but not yet paid for - and she predicted that metric will rise over the next year.

[1]

"We signed four multi-billion-dollar contracts with three different customers in Q1," [2]said Catz.

[3]

[4]

"This resulted in RPO contract backlog increasing 359 percent to $455 billion. It was an astonishing quarter - and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign up several additional multi-billion-dollar customers and RPO is likely to exceed half a trillion dollars."

Oracle will give more details on those deals soon, she said, but did predict that current projects on Oracle Cloud Infrastructure will see its revenue grow from $18 billion this year to $144 billion by 2031.

[5]Feds brag about hefty Oracle discount – licensing experts smell a lock-in

[6]OpenAI sweet-talks Oracle into another 4.5GW worth of Stargate datacenters, assuming the check clears

[7]Oracle cuts cloud jobs with Seattle hit hard as AI spending soars

[8]Oracle just signed one mystery customer that will double its cloud revenue in 2028

A sizable chunk of the money will likely come from the US government. In July Oracle inked a [9]massive deal with the US General Services Administration (GSA) to provide cloud services and Catz & Co may have already sorted out several other government deals as well.

Oracle has maintained good relations with the White House, and Ellison has supported Trump and other Republicans for many years. Catz [10]attended a dinner with the Trumps last week.

[11]

Before the GSA announcement, Oracle had already hinted at megabucks deals ahead in statutory filings. However, it might not just be public money filling Oracle's coffers. Big Red is also [12]cozying up to OpenAI to rent it datacenter capacity and there may be more deals to come, with observers [13]touting Chinese retail giant Temu as a likely Big Red Cloud customer.

There's also the possibility that Oracle will be host TikTok, after Ellison [14]suggested such a deal last month. He did this while cutting jobs - something that always makes Wall Street happy.

"MultiCloud database revenue from Amazon, Google, and Microsoft grew at the incredible rate of 1,529 percent in Q1," said Ellison during today's earnings announcement, referring to cash coming from Oracle users running its database in other clouds.

[15]

"We expect MultiCloud revenue to grow substantially every quarter for several years as we deliver another 37 datacenters to our three Hyperscaler partners, for a total of 71."

The stock surge solidifies Ellison's net worth at around $300 billion, making him the second richest person on the planet behind Elon Musk, as per [16]Bloomberg . His wealth is underpinned by a growing business, not a struggling car company attached to an unprofitable rocket outfit and a controversial social network, meaning he could knock Elon off his perch quite soon. ®

Get our [17]Tech Resources



[1] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/databases&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2aMD32AwV9xTAIU8KkPP7SAAAAME&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0

[2] https://investor.oracle.com/investor-news/news-details/2025/Oracle-Announces-Fiscal-Year-2026-First-Quarter-Financial-Results/default.aspx

[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/databases&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aMD32AwV9xTAIU8KkPP7SAAAAME&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0

[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/databases&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33aMD32AwV9xTAIU8KkPP7SAAAAME&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0

[5] https://www.theregister.com/2025/07/08/gsa_oracle_deal/

[6] https://www.theregister.com/2025/07/22/openai_oracle_gpus/

[7] https://www.theregister.com/2025/08/15/oracle_cuts_300_in_california/

[8] https://www.theregister.com/2025/07/01/oracle_cloud_ai/

[9] https://www.theregister.com/2025/07/08/gsa_oracle_deal/

[10] https://www.theregister.com/2025/09/05/trump_rewards_tech_industry_loyalty/

[11] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/databases&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aMD32AwV9xTAIU8KkPP7SAAAAME&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0

[12] https://www.theregister.com/2025/07/01/oracle_cloud_ai/

[13] https://www.theregister.com/2025/07/22/openai_oracle_gpus/

[14] https://www.theregister.com/2025/08/15/oracle_cuts_300_in_california/

[15] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/databases&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33aMD32AwV9xTAIU8KkPP7SAAAAME&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0

[16] https://www.bloomberg.com/billionaires/

[17] https://whitepapers.theregister.com/