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Oracle Names New CFO Amid Rising AI Investment Pressure

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Oracle has appointed Hilary Maxson as its new chief financial officer, signaling a strategic shift as the company accelerates spending on artificial intelligence and cloud infrastructure.

Maxson joins from Schneider Electric, where she served as group CFO and helped guide the firm’s transformation into a digital energy and technology-focused business. Her appointment restores a formal CFO role at Oracle for the first time since 2014, when Safra Catz assumed expanded leadership responsibilities.

The move comes at a time when investors are closely monitoring Oracle’s aggressive capital expenditures tied to AI. The company expects to spend around $50 billion in its current fiscal year—more than double the previous year—as it builds out infrastructure to support growing demand for AI-driven services.

This expansion has put pressure on Oracle’s financials. The company reported a negative free cash flow of $394 million in fiscal 2025, a sharp contrast to the $25.3 billion it generated between 2022 and 2024. It has also indicated plans to raise up to $50 billion through a mix of debt and equity to fund continued growth.

Maxson’s experience in energy and infrastructure is seen as particularly relevant, given the increasing overlap between AI computing and power-intensive data center operations. Analysts suggest her appointment may help reinforce financial discipline as Oracle balances rapid expansion with profitability concerns.

The leadership change also aligns Oracle more closely with industry peers, many of whom maintain dedicated CFO roles amid escalating AI investment cycles. Meanwhile, the company has also implemented workforce reductions as part of broader cost realignment efforts.

Broadcom Names Alphabet Executive Amie Thuener as CFO

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Broadcom has appointed Amie Thuener as its next chief financial officer, effective June 12, replacing current CFO Kirsten Spears.

Thuener currently serves as vice president, corporate controller and chief accounting officer at Alphabet Inc.. She brings extensive experience in financial reporting, corporate governance and AI-related transactions, having also previously worked at PricewaterhouseCoopers.

Broadcom CEO Hock Tan highlighted Thuener’s background in managing complex global operations as a key factor in her appointment.

Outgoing CFO Kirsten Spears, who has held the role since 2020, will remain as an advisor for nine months to ensure a smooth transition. During her tenure, Broadcom completed major strategic moves, including the $69 billion acquisition of VMware.

Broadcom continues to expand its role in the artificial intelligence ecosystem, working with partners such as Google and OpenAI on custom chip development. The company recently projected its AI-related chip revenue could exceed $100 billion next year, driven by strong demand despite ongoing supply chain constraints.

MongoDB Raises Annual Forecasts Amid Increased Service Usage

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MongoDB (MDB.O) announced on Monday that it is raising its annual revenue and profit forecasts for the second time this year, driven by strong growth in the usage of Atlas, its cloud-based database management service. The news prompted a 10.6% rise in the company’s shares in after-hours trading.

Unlike traditional subscription models, MongoDB operates a pay-as-you-use pricing model, where customers are charged based on their service usage. This model has proven successful, particularly as demand for services involving artificial intelligence (AI) deployments has surged.

Strong Growth Across the Board

MongoDB’s updated financial outlook reflects robust demand for its offerings, especially the Atlas service. The company now expects adjusted profit per share for the fiscal year ending on January 31 to range between $3.01 and $3.03, up from its prior forecast of $2.33 to $2.47.

Additionally, MongoDB revised its revenue forecast for the fiscal year, now projecting between $1.97 billion and $1.98 billion, an increase from the previous projection of $1.92 billion to $1.93 billion. The company’s third-quarter revenue rose by 22% year-over-year to $529.4 million, exceeding the analyst consensus of $502 million, according to data from LSEG.

On an adjusted basis, MongoDB earned $1.16 per share in Q3, significantly outperforming the expected profit of $0.69 per share.

Leadership Transition

In another development, MongoDB announced that its Chief Financial Officer (CFO), Michael Gordon, will step down at the end of the fiscal year. Serge Tanjga, the company’s Senior Vice President of Finance, will take over as interim CFO starting February 1, while MongoDB searches for a permanent successor.

Industry Trends

MongoDB’s performance comes at a time when other companies in the cloud database sector, such as Snowflake, are also revising their forecasts upward due to increased service usage. Snowflake recently raised its full-year product revenue forecast, bolstered by strong consumption and bookings, alongside its AI-focused partnership with Amazon-backed Anthropic.