Oracle’s stock price is soaring, with projections estimating cloud revenue to reach $18 billion this year and potentially $144 billion by 2030. The company secured a $300 billion deal with OpenAI and its remaining performance obligations are at $455 billion, up 359% from last year. Oracle’s growth strategy is focused on the AI industry’s potential.

OpenAI, on track to generate $10 billion in revenue this year, will pay Oracle roughly $60 billion under their deal. Despite Oracle’s debt-to-equity ratio of 427% and emphasis on growth over profit, the company’s share price surged 36% and briefly surpassed Elon Musk’s wealth. Analysts note Oracle’s AI cloud compute services may be operating at low margins compared to its legacy business.

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