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Oracle appoints Clay Magouyrk and Mike Sicilia as co-CEOs, Safra Catz steps aside

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Oracle announced a surprise leadership shakeup on Monday, naming insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing longtime chief executive Safra Catz. Catz, who helped transform Oracle into a cloud powerhouse over her 11-year tenure, will remain with the company as vice chair of the board.

Catz’s legacy includes steering Oracle from its roots as a database provider into a global competitor in cloud computing, securing massive AI-related contracts, and driving the company’s market capitalization close to $1 trillion. Shares of Oracle have soared about 85% this year, outpacing rivals Microsoft and Alphabet, buoyed by the AI boom.

  • Mike Sicilia (54) currently oversees Oracle’s cloud-based applications and AI products.

  • Clay Magouyrk (39) manages Oracle’s cloud infrastructure platform, which underpins the company’s AI and data services.

Both executives are well-known to investors, and analysts say their promotion highlights cloud and industry solutions as Oracle’s main growth engines. Evercore ISI noted that with co-founder Larry Ellison staying on as CTO and Catz as executive vice chair, the leadership transition should be smooth.

Oracle is currently central to U.S. data security discussions, hosting TikTok’s U.S. user data on its cloud systems. The company also recently signed one of the largest cloud deals in history with OpenAI, worth an estimated $300 billion in computing power over five years.

Safra Catz, one of the most influential women in tech, first became co-CEO alongside the late Mark Hurd in 2014 after Ellison stepped back from daily operations. Under her leadership, Oracle shares climbed more than 586%. Trained in finance and law, Catz joined Oracle in 1999 after a career on Wall Street and today holds a net worth of $3.3 billion, according to Forbes.

Magouyrk, who joined Oracle from Amazon Web Services in 2014, will receive stock options worth $250 million, while Sicilia, who came via Oracle’s acquisition of Primavera Systems, will receive $100 million in stock options.

The co-CEO model, while less common, is being adopted by several global firms, including investment giant KKR and, briefly, Intel. For Oracle, the dual leadership underscores the scale of its ambitions as cloud and AI reshape the tech landscape.

Oracle Stock Soars on AI Cloud Deals as Ellison Nears Musk in Wealth Rankings

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Oracle shares rocketed nearly 43% to a record high on Wednesday, putting the software giant within reach of the $1 trillion market cap club. The surge comes after Oracle unveiled four multi-billion-dollar contracts, positioning itself as a rising force in the global AI cloud race.

The Wall Street Journal reported that OpenAI has signed a staggering $300 billion contract with Oracle for computing power over five years — one of the largest cloud deals ever inked. Most of Oracle’s newly announced revenue gains stem from this partnership, analysts said.

The stock hit a high of $345.69, set for its biggest one-day percentage gain since 1992. If momentum holds, Oracle will add $234 billion in market value, bringing it to about $913 billion. Shares are already up 45% this year, outperforming the Magnificent Seven tech stocks and the broader S&P 500.

Ellison Closes in on Musk

The rally boosted co-founder Larry Ellison’s net worth by nearly $100 billion, to $392.6 billion, according to Forbes. Ellison, 81, is now within striking distance of Elon Musk, whose wealth stands at $439.9 billion.

AI Cloud Momentum

Oracle’s cloud business has seen explosive growth thanks to partnerships with Amazon, Microsoft, and Alphabet, which now allow customers to run Oracle Cloud Infrastructure (OCI) alongside their native services. Revenue from these collaborations rose 16-fold in Q1.

CEO Safra Catz told investors: “Over the next few months, we expect to sign up several additional multi-billion-dollar customers, and RPO is likely to exceed half-a-trillion dollars.”

Oracle is also a participant in Stargate, the $500 billion AI infrastructure project backed by SoftBank and OpenAI, which analysts say could provide revenues well into the next decade.

Market Impact

The earnings also lifted semiconductor suppliers Nvidia, Broadcom, and AMD, whose shares climbed 2–8% on expectations of higher demand for data center chips. Rival CoreWeave saw its stock jump about 15%.

With Oracle trading at 33.34x forward earnings, it now commands a valuation premium over Amazon (32.34x) and Microsoft (30.83x), underscoring how investors see its AI-driven growth story as one of the strongest in tech.

Oracle Cloud Orders Near $500 Billion, Shares Jump 27%

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Oracle (ORCL.N) announced Tuesday that it expects its booked revenue in cloud infrastructure to surpass half a trillion dollars, sending shares soaring 27% after hours. The surge reflects rising demand for its low-cost AI cloud infrastructure and strong multi-cloud partnerships.

Key Highlights

  • Booked Revenue (RPO): Jumped 359% year-on-year to $455 billion in Q1 (ending August 31).

  • Future Growth: CEO Safra Catz said upcoming multi-billion-dollar deals are expected to push RPO beyond $500 billion.

  • Revenue Forecast: Oracle projects 77% growth in OCI revenue this fiscal year to $18B, rising to $144B over the next 4 years.

  • AI Integration: Customers can now directly connect databases to ChatGPT, Gemini, and Grok via Oracle Cloud.

  • MultiCloud Strategy: Partnerships with Amazon, Google, and Microsoft drove a 1,529% increase in first-quarter multi-cloud revenue. Oracle plans 37 new datacenters, bringing the total to 71 with hyperscaler partners.

Market Impact

  • Shares: Up 45% YTD, boosted further by the after-hours spike.

  • Contracts: Four multi-billion-dollar deals with three customers supported overall Q1 revenue growth of 12% to $14.93B.

  • Q2 Guidance: Total revenue expected to rise 12–14%, with cloud revenue growing 32–36%.

Analyst Views

  • Analysts see Oracle emerging as a key AI cloud player, despite being smaller than hyperscaler rivals.

  • “Oracle is not just keeping up but actually leading the way in the cloud space,” said Melissa Otto, S&P Global Visible Alpha.

  • Jacob Bourne, eMarketer: “Enterprises are clearly eager for cost-effective AI cloud tools, and Oracle is positioning itself to capture that demand.”