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Oracle forecasts $166 billion in cloud revenue by 2030 as AI demand fuels growth

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Oracle (ORCL.N) expects its cloud infrastructure business to soar to $166 billion in annual revenue by fiscal 2030, nearly three-quarters of its total projected sales, as the company capitalizes on surging demand for artificial intelligence and cloud computing.

The forecast, unveiled by CEO Clay Magouyrk during a meeting with analysts, signals Oracle’s growing confidence that its cloud business will continue to expand well beyond its current customer base, which includes OpenAI and Meta Platforms.

CFO Dough Kehring said Oracle anticipates total revenue of $225 billion and adjusted earnings of $21 per share by 2030, outpacing Wall Street expectations of $198.4 billion in sales and $18.92 per share in profits, according to LSEG data.

The company’s cloud infrastructure bookings have ballooned, with Oracle reporting a $65 billion surge in new commitments over a single month last quarter — including a $20 billion deal with Meta. Magouyrk emphasized that the new commitments came from multiple clients, not just OpenAI.

In its most recent quarter, Oracle’s cloud revenue jumped 28% to $7.2 billion, underscoring rapid adoption of its AI and enterprise cloud services.

While the company’s gross margins are expected to fluctuate as it scales its infrastructure business, Oracle said its AI cloud margins will remain in the 30–40% range, while traditional enterprise cloud segments will maintain between 65% and 80% margins.

Oracle shares rose 3% after the forecast, though they dipped slightly in after-hours trading.

Salesforce projects over $60 billion in revenue by 2030 as AI rollout accelerates

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Salesforce has raised its long-term outlook, forecasting revenue of more than $60 billion by 2030, surpassing Wall Street’s expectations of $58.37 billion. The projection, revealed during the company’s Dreamforce event, underscores confidence in its aggressive push to integrate artificial intelligence across all cloud services.

The forecast excludes the impact of Salesforce’s pending $8 billion acquisition of Informatica, a deal aimed at strengthening the company’s AI and data management capabilities. Informatica’s software helps businesses handle complex data integration and governance — key to powering AI-driven decision-making across Salesforce’s platform.

The company’s new Agentforce AI platform, which automates tasks and enhances operational efficiency, is expected to play a major role in future growth. Salesforce said Agentforce 360 will soon be available globally across its cloud suite, offering businesses new tools to improve productivity and cut costs.

Despite economic uncertainty and cautious corporate spending, Salesforce remains optimistic. Its shares jumped nearly 4% in after-hours trading following the announcement, even as the stock is still down 29% this year.

In addition to its growth forecast, Salesforce unveiled a $7 billion share buyback program to be completed over the next six months — a signal of confidence in its long-term profitability and cash flow strength.

Google says over 100 firms likely hit in Oracle-linked hacking campaign

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Google warned that more than 100 companies may have been compromised in a massive cyberattack targeting Oracle’s E-Business Suite, a core system used by corporations to manage supply chains, customer data, and manufacturing operations.

In a statement released Thursday, Google said “mass amounts of customer data” were stolen in the attack, which may have begun three months ago. The company attributed the breach to the CL0P ransomware group, known for large-scale cyber intrusions exploiting third-party software vulnerabilities.

“This level of investment suggests the threat actor dedicated significant resources to pre-attack research,” Google’s cybersecurity division said. Analyst Austin Larsen added that while dozens of victims have been confirmed, “based on the scale of previous CL0P campaigns, it is likely there are over a hundred.”

The breach appears to have targeted Oracle’s E-Business Suite, used by corporations worldwide to manage sensitive operations including logistics, customer relations, and payments. Oracle has not publicly commented beyond acknowledging ongoing extortion attempts against some clients.

CL0P, which has previously claimed responsibility for major data thefts, told Reuters earlier this week that Oracle had “bugged up their core product.” The group is reportedly threatening to publish stolen data unless ransom demands are met.

Cyber experts say the scale of the attack could rival the MOVEit hack of 2023, underlining the growing risk of supply chain breaches that exploit trusted enterprise software systems.