Bernstein says Oracle is in a new high-intensity investment cycle; second‑generation cloud infrastructure and AI data centers should accelerate revenue, profit and FCF and could place Oracle among the world’s top‑three hyperscale cloud providers. Bernstein forecasts FY2026 cloud infrastructure revenue of about $18.1 bln, up 77% YoY, including roughly $6.6 bln of AI revenue. Heavy capex will weigh on gross margins and create financing needs, while high‑margin database, multicloud and enterprise s

Bernstein says Oracle is in a new high-intensity investment cycle; second‑generation cloud infrastructure and AI data centers should accelerate revenue, profit and FCF and could place Oracle among the world’s top‑three hyperscale cloud providers. Bernstein forecasts FY2026 cloud infrastructure revenue of about $18.1 bln, up 77% YoY, including roughly $6.6 bln of AI revenue. Heavy capex will weigh on gross margins and create financing needs, while high‑margin database, multicloud and enterprise software businesses should partly offset the impact. Bernstein reiterates Outperform with a $325 target (Bernstein report, Sept. 2).