Oracle reaches $638 billion in remaining contracts

Oracle reported $638 billion in remaining performance obligations at the end of its fiscal year 2026 on 31 May. That total rose 363% compared to the previous year and grew by $85 billion from the prior quarter. Around $75 billion of that backlog corresponds to customer-prepaid or customer-supplied graphics processing units for large-scale artificial intelligence contracts.

For the full fiscal year, Oracle reached $67.4 billion in total revenue, up 17%. Its cloud infrastructure unit generated $18.1 billion, advancing 77% over the year and expanding 93% in the fourth quarter. The company is building the Stargate data center initiative in the United States alongside OpenAI and SoftBank, a project announced in January 2025 with a $500 billion four-year commitment.

In Peru, the company is shifting its local expansion toward business partners rather than building a local facility. Gastón De Zavaleta, general manager of Oracle in Peru, stated that the group began a three-month partner training program on 1 June. Peruvian clients run artificial intelligence workloads through regional data centers located in Brazil, Colombia, and Chile. Oracle operates seven facilities across Latin America, comprising two in Mexico, two in Brazil, two in Chile, and one in Colombia.