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Oracle's cloud arm books $455B revenue jump
Oracle's cloud arm, OCI, just reported a huge jump in future business—its booked revenue shot up 359% to $455 billion for the quarter ended August 31.
CEO Safra Catz says even more multi-billion-dollar deals are on the way.
OCI's growth trajectory and future projections
OCI expects its revenue to climb 77% to $18 billion this year, with new partnerships with Amazon, Alphabet, and Microsoft.
These collaborations helped drive a massive 1,529% surge in related first-quarter revenue.
Oracle is also planning 37 new datacenters and forecasts overall company growth of up to 14% next quarter—with cloud revenue possibly rising by over a third.