The American software corporation Oracle has secured a cloud contract with annual revenues of $30 billion (approximately 40.62 trillion won).
According to Bloomberg News and U.S. economic media CNBC on the 30th (local time), Oracle announced in documents submitted to regulatory authorities that it signed a contract worth $30 billion annually without revealing the client's name. The company added that this revenue is expected to flow in from the 2028 fiscal year.
This contract is reported by U.S. media as the largest single cloud contract in Oracle's history. It amounts to about three times Oracle's total infrastructure business revenue, which was approximately $10.3 billion over the past four quarters.
Anurag Rana, an analyst at Bloomberg Intelligence, described this transaction as indicative of Oracle's plan to expand its market share in the cloud sector over the next few years. In January, Oracle announced the 'Stargate' project, in collaboration with OpenAI and Japan's SoftBank, to invest up to $500 billion (approximately 677 trillion won) in building artificial intelligence (AI) infrastructure in the United States over the next four years.
On the New York Stock Exchange, Oracle's stock price rose by 8.55% during the trading session in the morning, reaching an all-time high of $228.22, before giving back some of the gains in the afternoon to show an increase in the 4% range. Oracle's stock price has risen by about 32% since the beginning of the year.