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Home Deal Wins

WHO IS IT? Oracle strikes mystery $30bn-a-year cloud deal

Buries news of gargantuan deal set to start in FY28 in 8K form

Oxygen staff by Oxygen staff
1 July 2025
in Deal Wins, News, Vendor
Safra Catz, Oracle

By Oracle PR/Hartmann Studios - https://www.flickr.com/photos/oracle_images/15198956588/, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=94906094

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Oracle has set tongues wagging by announcing it has landed a $30bn-a-year cloud services deal – but without saying who with.

News of the gargantuan contract was buried in an 8K form filed by the software giant yesterday.

In the relevant paragraph, Oracle said its CEO Safra Catz would be meeting with Oracle colleagues yesterday to share the news.

“She will say, ‘Oracle is off to a strong start in FY26. Our MultiCloud database revenue continues to grow at over 100%, and we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in FY28’,” it read.

To put the $30bn deal size in context, the entire global cloud infrastructure services market was worth $268bn in 2024, according to Canalys.

It’s also more than half Oracle’s total fiscal 2025 revenues of $57.4bn (cloud represents around 42% of its overall business).

The news immediately sparked speculation as to the identity of the customer, with Futurum analyst Alex Smith opining that it “can only be some type of government contract”.  

An FT article noted that Oracle founder Larry Ellison said in March that he expected Oracle to sign its first contract with OpenAI and SoftBank’s $500bn Stargate data centre project “fairly soon”, meanwhile.

Stargate is “another possibility” Smith agreed.

“[It’s] hard to contextualise a $30bn (per annum) cloud deal,” Smith wrote, adding that by his “quick math” it could thrust Oracle into third in the global cloud infrastructure market.

Oracle’s total cloud revenue – encompassing SaaS and IaaS – swelled 27% year on year $6.7bn in its most recently completed Q4 of its fiscal 2025.

News of the deal propelled Oracle’s shares to their highest ever value.

IT Channel Oxygen has contacted Oracle for comment, and will updated accordingly.

Tags: featuredOracle
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