Oracle predicts cloud infrastructure revenue to reach $166 billion by fiscal 2030, comprising 75% of total sales. CFO expects $225 billion overall revenue and $21 per share adjusted profit by 2030, surpassing analyst estimates. Oracle reports 28% jump in cloud revenue to $7.2 billion for the latest quarter.

Oracle shares rise 3% post-cloud computing announcement but drop 2% in after-hours trading due to broader revenue and profit forecasts. Company secures $65 billion in new commitments in a 30-day period, including $20 billion deal with Meta Platforms. Oracle addresses investor concerns about gross margins, aiming for steady margins over contract terms.

CEO Magouyrk states new bookings are diverse, not just from OpenAI. Oracle working on $500 billion project with ChatGPT creator OpenAI, involving five new data centers. Company expects adjusted gross margins of 30-40% for AI cloud computing infrastructure, while other segments may have margins of 65-80%. Oracle assures margins will remain steady over contract terms.

Read more at Yahoo Finance: Oracle expects cloud sales of $166 billion by 2030 as business expands