US stock futures opened mostly flat on September 10, with the S&P 500 and Nasdaq both drifting slightly lower as investors braced for two catalysts arriving in quick succession: fresh producer price index inflation data and Oracle’s quarterly earnings report. Oil prices have spiked above $100 per barrel, driven by escalating geopolitical tensions in the Middle East involving Iran and Saudi Arabia.
Oracle’s fiscal Q4 2026 capital expenditures clocked in at $55.7 billion, blowing past its own $50 billion forecast, focused on expanding AI-centric data centers.
Oracle’s cloud numbers tell a compelling story
Oracle’s cloud infrastructure revenue surged 93% year-over-year in Q4 FY2026, reaching $5.8 billion. Total cloud revenue, which includes software-as-a-service alongside infrastructure, climbed 47% to $9.9 billion.
The remaining performance obligations backlog hit a record $638 billion. RPO is essentially the total value of contracts Oracle has locked in but hasn’t yet recognized as revenue.
