ORACLE REAL GROWTH STORY IS HIDING IN ITS $664 BILLION BACKLOG

What happened: Oracle's $664 billion backlog is drawing attention as its debt load and bond yields worry investors, with OpenAI making up less than half of that backlog. Key numbers: $664 billion backlog; over $125 billion in debt; book value around $67 billion; some corporate bond yields above 8%; $300 billion OpenAI deal; backlog grew $209 billion over the previous 12 months; fiscal Q1 2027 revenue over $19 Why it matters: The article argues the backlog outside OpenAI could still support growth, and the lower valuation may appeal to risk-tolerant investors despite balance sheet strain.

Oracle's $664 billion backlog is drawing attention as its debt load and bond yields worry investors, with OpenAI making up less than half of that backlog.

The article argues the backlog outside OpenAI could still support growth, and the lower valuation may appeal to risk-tolerant investors despite balance sheet strain.