Microsoft is winding down an Oracle AI deal, Bloomberg says. Oracle says demand is strong
Bloomberg said the rented hardware used older Nvidia chips. Oracle, which spreads its servers' cost over six years, said in September that older capacity up for renewal was renewed or resold at 20% more.
KeyVex News··5 min readFact-checked against 5 public recordsKeyVex News··5 min readFact-checked against 5 public records
ORCL$115.16▼ 6.9%Close, Nov. 5. Prices from Tiingo.The short versionTap to readTap to close
- Oracle spreads the cost of its servers and networking gear over six years, its quarterly report shows. That means each of those years carries a share of the cost.
- In September, Oracle said AI capacity that came up for renewal, most of it four or more years old, was renewed or resold at 20% more than before.
- On Nov. 6, Bloomberg reported, citing unnamed people, that Microsoft has been switching off older-chip AI capacity it rented from Oracle rather than renew. Oracle announced a multi-year Bing AI deal with Microsoft in 2023.
- Oracle says demand for its AI infrastructure "remains strong," including for older chips. It has not said who will use the capacity Bloomberg says Microsoft is leaving.
- Oracle had also signed $288 billion of data center leases that had not started at Aug. 31. They are generally expected to begin from its quarter ending Nov. 30, 2026 through fiscal 2029.
The report: Microsoft has been switching off the AI computing it rented from Oracle in recent months, after declining to renew the contract, Bloomberg reported on Nov. 6, citing people familiar with the matter.ReutersInvesting.com The capacity no longer met Microsoft's needs, the people said, and the Oracle hardware used an older generation of Nvidia chips, Bloomberg reported.ReutersInvesting.com Bloomberg described the move as part of a wider reassessment of Microsoft's cloud partnerships.Reuters It could not determine the contract's value, and Microsoft declined to comment.Investing.com
The deal: The arrangement dates to 2023, when Oracle agreed to supply computing for Microsoft's AI-powered Bing search, Investing.com and crypto.news reported.Investing.comcrypto.news Oracle announced that multi-year deal on Nov. 7, 2023: Microsoft would run the AI models behind Bing's conversational search on Oracle's AI infrastructure as well as its own Azure. Terms were not disclosed.DCDDBTAReuters
Why it matters: In September, Oracle said its older chips were holding their value. On its earnings call, co-chief executive Clay Magouyrk said the graphics chips, or GPUs, that came up for renewal were "renewed or resold at a 20% premium to prior contracts." Most were four or more years old, he said, adding: "We see a long useful life with increasing value for the AI capacity we are deploying."Call transcriptBenzinga Oracle's books count its servers as lasting six years, the span over which their cost is charged against earnings.10-Q Demand "remains strong, including for earlier-generation GPUs," an Oracle spokesperson told Reuters.Reuters
The stock: Oracle closed at $115.16 on Nov. 5, down 24.7% from its Sept. 10 close, the last before those results.KeyVex It fell 6.9% that day, when the Nasdaq 100 fund fell 6.5%.KeyVex At 2:24 p.m. Eastern on Nov. 6 it traded at $115.01, KeyVex's intraday quote shows.KeyVex
Oracle's stock since it announced Microsoft's Bing dealDaily close, Nov. 7, 2023 to Nov. 5, 2026 ▲ 5.7%Show chartHide chart
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- 1Nov. 7, 2023 Oracle announces Microsoft's multi-year deal for Bing. Microsoft will use Oracle's AI infrastructure, along with its own Azure, to run AI models for Bing's conversational search. No financial terms. Close: $108.99.
- 2Sept. 10, 2026 Oracle's first-quarter results and call. Released after the close. On the call, Oracle says AI capacity up for renewal was renewed or resold at a 20% premium. Close: $152.94.
- 3Sept. 11, 2026 Oracle's quarterly report. Filed after the close: servers booked over six years; $288 billion of data center leases not yet started. Close: $150.28.
- 4Nov. 5, 2026 The last close before Bloomberg's report. Close: $115.16, down 6.9% on a day the Nasdaq 100 fund fell 6.5%.
View the data (752 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-11-05 | $115.16 | −6.9% |
| 2026-11-04 | $123.73 | −1.9% |
| 2026-11-03 | $126.19 | +5.8% |
| 2026-11-02 | $119.22 | −8.8% |
| 2026-10-30 | $130.67 | −6.4% |
| 2026-10-29 | $139.56 | −3.4% |
| 2026-10-28 | $144.54 | +10.7% |
| 2026-10-27 | $130.53 | +3.5% |
| 2026-10-26 | $126.06 | −0.1% |
| 2026-10-23 | $126.16 | +0.5% |
| 2026-10-22 | $125.54 | −2.8% |
| 2026-10-21 | $129.13 | −1.5% |
| 2026-10-20 | $131.14 | +1.2% |
| 2026-10-19 | $129.59 | +1.1% |
| 2026-10-16 | $128.23 | −4.6% |
| 2026-10-15 | $134.47 | +3.0% |
| 2026-10-14 | $130.55 | −8.8% |
| 2026-10-13 | $143.20 | +4.2% |
| 2026-10-12 | $137.39 | −2.8% |
| 2026-10-09 | $141.40 | +4.2% |
| 2026-10-08 | $135.69 | −5.5% |
| 2026-10-07 | $143.56 | −0.8% |
| 2026-10-06 | $144.77 | +1.6% |
| 2026-10-05 | $142.48 | +0.1% |
| 2026-10-02 | $142.30 | +3.1% |
| 2026-10-01 | $138.07 | +0.6% |
| 2026-09-30 | $137.30 | −0.4% |
| 2026-09-29 | $137.79 | +3.9% |
| 2026-09-28 | $132.60 | −3.3% |
| 2026-09-25 | $137.10 | −1.7% |
| 2026-09-24 | $139.54 | −3.5% |
| 2026-09-23 | $144.56 | −3.1% |
| 2026-09-22 | $149.20 | +0.4% |
| 2026-09-21 | $148.56 | +0.6% |
| 2026-09-18 | $147.61 | −2.0% |
| 2026-09-17 | $150.59 | +5.2% |
| 2026-09-16 | $143.16 | +2.0% |
| 2026-09-15 | $140.35 | −3.1% |
| 2026-09-14 | $144.79 | −3.7% |
| 2026-09-11 | $150.28 | −1.7% |
| 2026-09-10 | $152.94 | −5.4% |
| 2026-09-09 | $161.63 | −0.5% |
| 2026-09-08 | $162.52 | +2.4% |
| 2026-09-04 | $158.78 | +3.1% |
| 2026-09-03 | $154.04 | +5.7% |
| 2026-09-02 | $145.75 | +3.1% |
| 2026-09-01 | $141.32 | −5.2% |
| 2026-08-31 | $149.12 | −1.1% |
| 2026-08-28 | $150.85 | −0.7% |
| 2026-08-27 | $151.94 | +2.1% |
| 2026-08-26 | $148.87 | +2.8% |
| 2026-08-25 | $144.76 | +1.6% |
| 2026-08-24 | $142.45 | −2.7% |
| 2026-08-21 | $146.47 | +3.1% |
| 2026-08-20 | $142.07 | −1.2% |
| 2026-08-19 | $143.81 | +0.7% |
| 2026-08-18 | $142.79 | −2.6% |
| 2026-08-17 | $146.65 | −2.6% |
| 2026-08-14 | $150.52 | −3.6% |
| 2026-08-13 | $156.22 | +1.9% |
| 2026-08-12 | $153.28 | +5.4% |
| 2026-08-11 | $145.48 | −3.7% |
| 2026-08-10 | $151.05 | +2.7% |
| 2026-08-07 | $147.02 | +2.5% |
| 2026-08-06 | $143.47 | −0.6% |
| 2026-08-05 | $144.39 | −0.9% |
| 2026-08-04 | $145.74 | +2.7% |
| 2026-08-03 | $141.85 | +9.2% |
| 2026-07-31 | $129.87 | +1.8% |
| 2026-07-30 | $127.56 | +8.3% |
| 2026-07-29 | $117.74 | −1.9% |
| 2026-07-28 | $119.96 | +0.1% |
| 2026-07-27 | $119.90 | +4.3% |
| 2026-07-24 | $114.99 | −4.2% |
| 2026-07-23 | $120.04 | −4.6% |
| 2026-07-22 | $125.84 | −1.0% |
| 2026-07-21 | $127.05 | +4.7% |
| 2026-07-20 | $121.38 | −4.0% |
| 2026-07-17 | $126.41 | +1.8% |
| 2026-07-16 | $124.21 | −6.2% |
| 2026-07-15 | $132.49 | +3.6% |
| 2026-07-14 | $127.94 | −2.7% |
| 2026-07-13 | $131.54 | −6.5% |
| 2026-07-10 | $140.64 | −2.5% |
| 2026-07-09 | $144.22 | +2.7% |
| 2026-07-08 | $140.49 | −0.8% |
| 2026-07-07 | $141.60 | −1.5% |
| 2026-07-06 | $143.76 | +2.5% |
| 2026-07-02 | $140.27 | −1.6% |
| 2026-07-01 | $142.50 | −2.8% |
| 2026-06-30 | $146.55 | −0.8% |
| 2026-06-29 | $147.76 | −0.5% |
| 2026-06-26 | $148.53 | −2.6% |
| 2026-06-25 | $152.46 | −3.2% |
| 2026-06-24 | $157.53 | −4.6% |
| 2026-06-23 | $165.16 | −5.7% |
| 2026-06-22 | $175.07 | −5.0% |
| 2026-06-18 | $184.29 | +0.4% |
| 2026-06-17 | $183.53 | −2.5% |
| 2026-06-16 | $188.33 | −2.2% |
| 2026-06-15 | $192.64 | +4.6% |
| 2026-06-12 | $184.13 | 0.0% |
| 2026-06-11 | $184.10 | −8.5% |
| 2026-06-10 | $201.26 | −2.2% |
| 2026-06-09 | $205.81 | −2.8% |
| 2026-06-08 | $211.82 | −0.9% |
| 2026-06-05 | $213.68 | −9.6% |
| 2026-06-04 | $236.34 | +2.6% |
| 2026-06-03 | $230.33 | −5.8% |
| 2026-06-02 | $244.58 | −1.4% |
| 2026-06-01 | $248.15 | +9.9% |
| 2026-05-29 | $225.78 | +10.8% |
| 2026-05-28 | $203.70 | +6.7% |
| 2026-05-27 | $190.96 | −1.1% |
| 2026-05-26 | $193.06 | +0.5% |
| 2026-05-22 | $192.08 | +1.2% |
| 2026-05-21 | $189.77 | +0.9% |
| 2026-05-20 | $188.16 | +3.7% |
| 2026-05-19 | $181.46 | −2.8% |
| 2026-05-18 | $186.61 | −3.3% |
| 2026-05-15 | $192.95 | −1.4% |
| 2026-05-14 | $195.61 | +3.1% |
| 2026-05-13 | $189.76 | +1.6% |
| 2026-05-12 | $186.83 | −3.6% |
| 2026-05-11 | $193.84 | −1.1% |
| 2026-05-08 | $195.95 | +0.7% |
| 2026-05-07 | $194.59 | +0.3% |
| 2026-05-06 | $194.03 | +4.7% |
| 2026-05-05 | $185.35 | +2.8% |
| 2026-05-04 | $180.29 | +4.9% |
| 2026-05-01 | $171.83 | +6.5% |
| 2026-04-30 | $161.39 | −1.5% |
| 2026-04-29 | $163.83 | −1.3% |
| 2026-04-28 | $165.96 | −4.0% |
| 2026-04-27 | $172.96 | −0.2% |
| 2026-04-24 | $173.28 | −1.7% |
| 2026-04-23 | $176.28 | −6.0% |
| 2026-04-22 | $187.50 | +3.5% |
| 2026-04-21 | $181.17 | +2.0% |
| 2026-04-20 | $177.58 | +1.4% |
| 2026-04-17 | $175.06 | −1.8% |
| 2026-04-16 | $178.34 | +5.0% |
| 2026-04-15 | $169.81 | +4.2% |
| 2026-04-14 | $163.00 | +4.7% |
| 2026-04-13 | $155.62 | +12.7% |
| 2026-04-10 | $138.09 | +0.2% |
| 2026-04-09 | $137.86 | −4.0% |
| 2026-04-08 | $143.66 | +0.3% |
| 2026-04-07 | $143.17 | −1.6% |
| 2026-04-06 | $145.54 | −0.6% |
| 2026-04-02 | $146.38 | +0.8% |
| 2026-04-01 | $145.23 | −1.3% |
| 2026-03-31 | $147.11 | +6.0% |
| 2026-03-30 | $138.80 | −0.6% |
| 2026-03-27 | $139.66 | −2.2% |
| 2026-03-26 | $142.81 | −2.2% |
| 2026-03-25 | $146.02 | −0.7% |
| 2026-03-24 | $147.09 | −4.7% |
| 2026-03-23 | $154.34 | +3.1% |
| 2026-03-20 | $149.68 | −3.8% |
| 2026-03-19 | $155.52 | +1.7% |
| 2026-03-18 | $152.90 | −1.2% |
| 2026-03-17 | $154.69 | −0.8% |
| 2026-03-16 | $155.97 | +0.6% |
| 2026-03-13 | $155.11 | −2.5% |
| 2026-03-12 | $159.16 | −2.4% |
| 2026-03-11 | $163.12 | +9.2% |
| 2026-03-10 | $149.40 | −1.4% |
| 2026-03-09 | $151.56 | −0.9% |
| 2026-03-06 | $152.96 | −1.2% |
| 2026-03-05 | $154.79 | +1.6% |
| 2026-03-04 | $152.37 | +2.3% |
| 2026-03-03 | $149.01 | −0.2% |
| 2026-03-02 | $149.25 | +2.6% |
| 2026-02-27 | $145.40 | −3.3% |
| 2026-02-26 | $150.31 | +1.6% |
| 2026-02-25 | $147.89 | +1.2% |
| 2026-02-24 | $146.14 | +3.4% |
| 2026-02-23 | $141.31 | −4.6% |
| 2026-02-20 | $148.08 | −5.4% |
| 2026-02-19 | $156.54 | +0.2% |
| 2026-02-18 | $156.17 | +1.4% |
| 2026-02-17 | $153.97 | −3.9% |
| 2026-02-13 | $160.14 | +2.3% |
| 2026-02-12 | $156.48 | −0.4% |
| 2026-02-11 | $157.16 | −1.7% |
| 2026-02-10 | $159.89 | +2.1% |
| 2026-02-09 | $156.59 | +9.6% |
| 2026-02-06 | $142.82 | +4.6% |
| 2026-02-05 | $136.48 | −6.9% |
| 2026-02-04 | $146.67 | −5.2% |
| 2026-02-03 | $154.67 | −3.4% |
| 2026-02-02 | $160.06 | −2.7% |
| 2026-01-30 | $164.58 | −2.6% |
| 2026-01-29 | $169.01 | −2.2% |
| 2026-01-28 | $172.80 | −1.2% |
| 2026-01-27 | $174.90 | −4.1% |
| 2026-01-26 | $182.44 | +3.0% |
| 2026-01-23 | $177.16 | −0.6% |
| 2026-01-22 | $178.18 | +2.5% |
| 2026-01-21 | $173.88 | −3.4% |
| 2026-01-20 | $179.92 | −5.8% |
| 2026-01-16 | $191.09 | +0.7% |
| 2026-01-15 | $189.85 | −1.9% |
| 2026-01-14 | $193.61 | −4.3% |
| 2026-01-13 | $202.29 | −1.2% |
| 2026-01-12 | $204.68 | +3.1% |
| 2026-01-09 | $198.52 | +4.7% |
| 2026-01-08 | $189.65 | −1.7% |
| 2026-01-07 | $192.84 | −0.5% |
| 2026-01-06 | $193.75 | +0.6% |
| 2026-01-05 | $192.59 | −1.6% |
| 2026-01-02 | $195.71 | +0.4% |
| 2025-12-31 | $194.91 | −1.2% |
| 2025-12-30 | $197.21 | +0.9% |
| 2025-12-29 | $195.38 | −1.3% |
| 2025-12-26 | $197.99 | +0.3% |
| 2025-12-24 | $197.49 | +1.1% |
| 2025-12-23 | $195.34 | −1.5% |
| 2025-12-22 | $198.38 | +3.3% |
| 2025-12-19 | $191.97 | +6.6% |
| 2025-12-18 | $180.03 | +0.9% |
| 2025-12-17 | $178.46 | −5.4% |
| 2025-12-16 | $188.65 | +2.0% |
| 2025-12-15 | $184.92 | −2.7% |
| 2025-12-12 | $189.97 | −4.5% |
| 2025-12-11 | $198.85 | −10.8% |
| 2025-12-10 | $223.01 | +0.7% |
| 2025-12-09 | $221.53 | +0.4% |
| 2025-12-08 | $220.54 | +1.4% |
| 2025-12-05 | $217.58 | +1.5% |
| 2025-12-04 | $214.33 | +3.2% |
| 2025-12-03 | $207.73 | +3.3% |
| 2025-12-02 | $201.10 | +0.1% |
| 2025-12-01 | $200.94 | −0.5% |
| 2025-11-28 | $201.95 | −1.5% |
| 2025-11-26 | $204.96 | +4.0% |
| 2025-11-25 | $197.03 | −1.6% |
| 2025-11-24 | $200.28 | +0.8% |
| 2025-11-21 | $198.76 | −5.7% |
| 2025-11-20 | $210.69 | −6.6% |
| 2025-11-19 | $225.53 | +2.3% |
| 2025-11-18 | $220.49 | +0.3% |
| 2025-11-17 | $219.86 | −1.3% |
| 2025-11-14 | $222.85 | +2.4% |
| 2025-11-13 | $217.57 | −4.1% |
| 2025-11-12 | $226.99 | −3.9% |
| 2025-11-11 | $236.15 | −1.9% |
| 2025-11-10 | $240.83 | +0.7% |
| 2025-11-07 | $239.26 | −1.9% |
| 2025-11-06 | $243.80 | −2.6% |
| 2025-11-05 | $250.31 | +0.9% |
| 2025-11-04 | $248.17 | −3.8% |
| 2025-11-03 | $257.85 | −1.8% |
| 2025-10-31 | $262.61 | +2.2% |
| 2025-10-30 | $256.89 | −6.7% |
| 2025-10-29 | $275.30 | −2.0% |
| 2025-10-28 | $280.83 | −0.2% |
| 2025-10-27 | $281.40 | −0.7% |
| 2025-10-24 | $283.33 | +1.2% |
| 2025-10-23 | $280.07 | +2.7% |
| 2025-10-22 | $272.66 | −0.9% |
| 2025-10-21 | $275.15 | −0.7% |
| 2025-10-20 | $277.18 | −4.9% |
| 2025-10-17 | $291.31 | −6.9% |
| 2025-10-16 | $313.00 | +3.1% |
| 2025-10-15 | $303.62 | +1.5% |
| 2025-10-14 | $299.00 | −2.9% |
| 2025-10-13 | $308.01 | +5.1% |
| 2025-10-10 | $292.96 | −1.3% |
| 2025-10-09 | $296.96 | +2.9% |
| 2025-10-08 | $288.63 | +1.5% |
| 2025-10-07 | $284.24 | −2.5% |
| 2025-10-06 | $291.59 | +1.9% |
| 2025-10-03 | $286.14 | −0.9% |
| 2025-10-02 | $288.78 | −0.1% |
| 2025-10-01 | $289.01 | +2.8% |
| 2025-09-30 | $281.24 | −0.5% |
| 2025-09-29 | $282.76 | −0.2% |
| 2025-09-26 | $283.46 | −2.7% |
| 2025-09-25 | $291.33 | −5.6% |
| 2025-09-24 | $308.46 | −1.7% |
| 2025-09-23 | $313.83 | −4.4% |
| 2025-09-22 | $328.15 | +6.3% |
| 2025-09-19 | $308.66 | +4.1% |
| 2025-09-18 | $296.62 | −1.6% |
| 2025-09-17 | $301.41 | −1.7% |
| 2025-09-16 | $306.65 | +1.5% |
| 2025-09-15 | $302.14 | +3.4% |
| 2025-09-12 | $292.18 | −5.1% |
| 2025-09-11 | $307.86 | −6.2% |
| 2025-09-10 | $328.33 | +35.9% |
| 2025-09-09 | $241.51 | +1.3% |
| 2025-09-08 | $238.48 | +2.4% |
| 2025-09-05 | $232.80 | +4.4% |
| 2025-09-04 | $223.00 | −0.2% |
| 2025-09-03 | $223.45 | −0.8% |
| 2025-09-02 | $225.30 | −0.4% |
| 2025-08-29 | $226.13 | −5.9% |
| 2025-08-28 | $240.32 | +1.9% |
| 2025-08-27 | $235.81 | +0.7% |
| 2025-08-26 | $234.21 | −0.5% |
| 2025-08-25 | $235.41 | −0.4% |
| 2025-08-22 | $236.37 | +1.4% |
| 2025-08-21 | $233.16 | −0.8% |
| 2025-08-20 | $235.06 | +0.2% |
| 2025-08-19 | $234.62 | −5.8% |
| 2025-08-18 | $249.07 | +0.3% |
| 2025-08-15 | $248.28 | +1.4% |
| 2025-08-14 | $244.96 | +0.3% |
| 2025-08-13 | $244.18 | −3.8% |
| 2025-08-12 | $253.86 | +0.5% |
| 2025-08-11 | $252.68 | +1.1% |
| 2025-08-08 | $250.05 | +0.3% |
| 2025-08-07 | $249.39 | −2.7% |
| 2025-08-06 | $256.43 | +0.3% |
| 2025-08-05 | $255.67 | +1.2% |
| 2025-08-04 | $252.53 | +3.3% |
| 2025-08-01 | $244.42 | −3.7% |
| 2025-07-31 | $253.77 | +1.3% |
| 2025-07-30 | $250.60 | +0.2% |
| 2025-07-29 | $249.98 | +0.9% |
| 2025-07-28 | $247.71 | +1.1% |
| 2025-07-25 | $245.12 | +0.9% |
| 2025-07-24 | $242.83 | +0.4% |
| 2025-07-23 | $241.90 | +1.6% |
| 2025-07-22 | $238.11 | −2.2% |
| 2025-07-21 | $243.54 | −0.8% |
| 2025-07-18 | $245.45 | −1.3% |
| 2025-07-17 | $248.75 | +3.1% |
| 2025-07-16 | $241.30 | +2.7% |
| 2025-07-15 | $234.96 | +2.5% |
| 2025-07-14 | $229.28 | −0.6% |
| 2025-07-11 | $230.56 | −1.9% |
| 2025-07-10 | $235.00 | −0.3% |
| 2025-07-09 | $235.81 | +0.6% |
| 2025-07-08 | $234.50 | +1.0% |
| 2025-07-07 | $232.26 | −2.1% |
| 2025-07-03 | $237.32 | +3.2% |
| 2025-07-02 | $229.98 | +5.0% |
| 2025-07-01 | $218.96 | +0.2% |
| 2025-06-30 | $218.63 | +4.0% |
| 2025-06-27 | $210.24 | −1.2% |
| 2025-06-26 | $212.82 | +1.0% |
| 2025-06-25 | $210.72 | −2.1% |
| 2025-06-24 | $215.27 | +4.0% |
| 2025-06-23 | $207.04 | +0.9% |
| 2025-06-20 | $205.17 | −2.7% |
| 2025-06-18 | $210.87 | +1.3% |
| 2025-06-17 | $208.18 | −1.4% |
| 2025-06-16 | $211.10 | −1.9% |
| 2025-06-13 | $215.22 | +7.7% |
| 2025-06-12 | $199.86 | +13.3% |
| 2025-06-11 | $176.38 | −0.6% |
| 2025-06-10 | $177.48 | +0.2% |
| 2025-06-09 | $177.15 | +1.8% |
| 2025-06-06 | $174.02 | +1.7% |
| 2025-06-05 | $171.14 | +1.8% |
| 2025-06-04 | $168.10 | −0.6% |
| 2025-06-03 | $169.14 | +1.5% |
| 2025-06-02 | $166.57 | +0.6% |
| 2025-05-30 | $165.53 | +1.6% |
| 2025-05-29 | $162.90 | −0.6% |
| 2025-05-28 | $163.85 | +1.2% |
| 2025-05-27 | $161.91 | +3.8% |
| 2025-05-23 | $155.97 | −0.9% |
| 2025-05-22 | $157.31 | +0.1% |
| 2025-05-21 | $157.18 | −2.0% |
| 2025-05-20 | $160.31 | +0.4% |
| 2025-05-19 | $159.64 | −0.5% |
| 2025-05-16 | $160.49 | +0.7% |
| 2025-05-15 | $159.40 | −2.2% |
| 2025-05-14 | $162.95 | +0.4% |
| 2025-05-13 | $162.27 | +3.2% |
| 2025-05-12 | $157.22 | +4.6% |
| 2025-05-09 | $150.34 | 0.0% |
| 2025-05-08 | $150.30 | +0.6% |
| 2025-05-07 | $149.37 | +1.1% |
| 2025-05-06 | $147.70 | −1.1% |
| 2025-05-05 | $149.29 | −1.0% |
| 2025-05-02 | $150.73 | +3.6% |
| 2025-05-01 | $145.49 | +3.4% |
| 2025-04-30 | $140.72 | 0.0% |
| 2025-04-29 | $140.79 | +0.5% |
| 2025-04-28 | $140.14 | +1.2% |
| 2025-04-25 | $138.49 | +0.7% |
| 2025-04-24 | $137.51 | +4.6% |
| 2025-04-23 | $131.40 | +3.3% |
| 2025-04-22 | $127.24 | +3.6% |
| 2025-04-21 | $122.82 | −4.5% |
| 2025-04-17 | $128.62 | −0.9% |
| 2025-04-16 | $129.76 | −3.1% |
| 2025-04-15 | $133.94 | −0.5% |
| 2025-04-14 | $134.64 | +1.7% |
| 2025-04-11 | $132.35 | −0.7% |
| 2025-04-10 | $133.35 | −4.5% |
| 2025-04-09 | $139.69 | +12.2% |
| 2025-04-08 | $124.50 | −2.1% |
| 2025-04-07 | $127.16 | −0.9% |
| 2025-04-04 | $128.27 | −6.5% |
| 2025-04-03 | $137.23 | −5.9% |
| 2025-04-02 | $145.86 | +2.8% |
| 2025-04-01 | $141.94 | +1.5% |
| 2025-03-31 | $139.81 | −0.8% |
| 2025-03-28 | $140.87 | −3.4% |
| 2025-03-27 | $145.78 | −1.4% |
| 2025-03-26 | $147.80 | −4.0% |
| 2025-03-25 | $153.93 | −0.6% |
| 2025-03-24 | $154.87 | +1.7% |
| 2025-03-21 | $152.23 | −0.3% |
| 2025-03-20 | $152.72 | +0.2% |
| 2025-03-19 | $152.45 | +2.0% |
| 2025-03-18 | $149.45 | −3.0% |
| 2025-03-17 | $154.01 | +3.2% |
| 2025-03-14 | $149.27 | +1.1% |
| 2025-03-13 | $147.66 | −2.1% |
| 2025-03-12 | $150.89 | +4.7% |
| 2025-03-11 | $144.18 | −3.1% |
| 2025-03-10 | $148.79 | −4.1% |
| 2025-03-07 | $155.16 | +2.8% |
| 2025-03-06 | $150.94 | −6.6% |
| 2025-03-05 | $161.56 | +2.6% |
| 2025-03-04 | $157.47 | −2.8% |
| 2025-03-03 | $162.02 | −2.4% |
| 2025-02-28 | $166.06 | +0.8% |
| 2025-02-27 | $164.76 | −4.5% |
| 2025-02-26 | $172.47 | +2.3% |
| 2025-02-25 | $168.54 | −0.8% |
| 2025-02-24 | $169.96 | +1.3% |
| 2025-02-21 | $167.81 | −4.7% |
| 2025-02-20 | $176.00 | −3.0% |
| 2025-02-19 | $181.52 | +1.0% |
| 2025-02-18 | $179.80 | +3.2% |
| 2025-02-14 | $174.16 | +0.2% |
| 2025-02-13 | $173.86 | +1.0% |
| 2025-02-12 | $172.22 | −2.8% |
| 2025-02-11 | $177.19 | −1.0% |
| 2025-02-10 | $178.92 | +2.6% |
| 2025-02-07 | $174.46 | +1.2% |
| 2025-02-06 | $172.35 | +0.4% |
| 2025-02-05 | $171.66 | +2.2% |
| 2025-02-04 | $167.89 | −0.4% |
| 2025-02-03 | $168.60 | −0.9% |
| 2025-01-31 | $170.06 | −0.2% |
| 2025-01-30 | $170.38 | +5.2% |
| 2025-01-29 | $162.02 | −1.2% |
| 2025-01-28 | $164.00 | +3.6% |
| 2025-01-27 | $158.28 | −13.8% |
| 2025-01-24 | $183.60 | −1.5% |
| 2025-01-23 | $186.47 | +1.2% |
| 2025-01-22 | $184.22 | +6.8% |
| 2025-01-21 | $172.57 | +7.2% |
| 2025-01-17 | $161.03 | +0.9% |
| 2025-01-16 | $159.54 | +0.8% |
| 2025-01-15 | $158.31 | +1.3% |
| 2025-01-14 | $156.31 | +1.6% |
| 2025-01-13 | $153.92 | −0.4% |
| 2025-01-10 | $154.50 | −5.3% |
| 2025-01-08 | $163.14 | +0.7% |
| 2025-01-07 | $162.03 | −2.2% |
| 2025-01-06 | $165.69 | −0.4% |
| 2025-01-03 | $166.32 | +0.2% |
| 2025-01-02 | $166.03 | −0.4% |
| 2024-12-31 | $166.64 | −0.2% |
| 2024-12-30 | $166.91 | −1.2% |
| 2024-12-27 | $168.96 | −1.6% |
| 2024-12-26 | $171.68 | +0.2% |
| 2024-12-24 | $171.41 | +1.3% |
| 2024-12-23 | $169.14 | −0.3% |
| 2024-12-20 | $169.66 | +0.5% |
| 2024-12-19 | $168.79 | +2.0% |
| 2024-12-18 | $165.41 | −2.5% |
| 2024-12-17 | $169.71 | −0.9% |
| 2024-12-16 | $171.23 | −1.2% |
| 2024-12-13 | $173.39 | −1.1% |
| 2024-12-12 | $175.32 | −1.8% |
| 2024-12-11 | $178.58 | +0.5% |
| 2024-12-10 | $177.74 | −6.7% |
| 2024-12-09 | $190.45 | −0.6% |
| 2024-12-06 | $191.69 | +2.9% |
| 2024-12-05 | $186.24 | −1.0% |
| 2024-12-04 | $188.19 | +2.9% |
| 2024-12-03 | $182.89 | +0.8% |
| 2024-12-02 | $181.41 | −1.9% |
| 2024-11-29 | $184.84 | +1.2% |
| 2024-11-27 | $182.70 | −4.0% |
| 2024-11-26 | $190.37 | +1.3% |
| 2024-11-25 | $187.99 | −2.2% |
| 2024-11-22 | $192.29 | −0.1% |
| 2024-11-21 | $192.43 | +0.9% |
| 2024-11-20 | $190.75 | +1.0% |
| 2024-11-19 | $188.90 | +1.7% |
| 2024-11-18 | $185.73 | +1.1% |
| 2024-11-15 | $183.74 | −1.8% |
| 2024-11-14 | $187.05 | −1.4% |
| 2024-11-13 | $189.63 | 0.0% |
| 2024-11-12 | $189.58 | +0.2% |
| 2024-11-11 | $189.13 | −0.1% |
| 2024-11-08 | $189.25 | +1.5% |
| 2024-11-07 | $186.37 | +2.8% |
| 2024-11-06 | $181.24 | +5.5% |
| 2024-11-05 | $171.78 | +1.3% |
| 2024-11-04 | $169.59 | −0.3% |
| 2024-11-01 | $170.02 | +1.3% |
| 2024-10-31 | $167.84 | −3.8% |
| 2024-10-30 | $174.56 | +0.7% |
| 2024-10-29 | $173.43 | +0.6% |
| 2024-10-28 | $172.42 | −0.6% |
| 2024-10-25 | $173.52 | −0.5% |
| 2024-10-24 | $174.38 | +0.7% |
| 2024-10-23 | $173.10 | −1.3% |
| 2024-10-22 | $175.31 | +0.9% |
| 2024-10-21 | $173.76 | −0.5% |
| 2024-10-18 | $174.69 | −0.6% |
| 2024-10-17 | $175.68 | +0.5% |
| 2024-10-16 | $174.77 | +0.4% |
| 2024-10-15 | $174.09 | −1.2% |
| 2024-10-14 | $176.12 | +0.2% |
| 2024-10-11 | $175.77 | +0.2% |
| 2024-10-10 | $175.41 | −1.6% |
| 2024-10-09 | $178.29 | +2.2% |
| 2024-10-08 | $174.37 | +2.6% |
| 2024-10-07 | $169.97 | −0.5% |
| 2024-10-04 | $170.86 | +2.4% |
| 2024-10-03 | $166.86 | −0.5% |
| 2024-10-02 | $167.71 | +0.3% |
| 2024-10-01 | $167.16 | −1.9% |
| 2024-09-30 | $170.40 | +1.0% |
| 2024-09-27 | $168.74 | +0.4% |
| 2024-09-26 | $168.10 | +1.1% |
| 2024-09-25 | $166.28 | +0.3% |
| 2024-09-24 | $165.80 | −0.1% |
| 2024-09-23 | $165.95 | −1.2% |
| 2024-09-20 | $168.00 | +0.2% |
| 2024-09-19 | $167.59 | +1.9% |
| 2024-09-18 | $164.53 | −1.8% |
| 2024-09-17 | $167.47 | −1.7% |
| 2024-09-16 | $170.33 | +5.1% |
| 2024-09-13 | $162.03 | +0.4% |
| 2024-09-12 | $161.38 | +2.7% |
| 2024-09-11 | $157.18 | +0.8% |
| 2024-09-10 | $155.89 | +11.4% |
| 2024-09-09 | $139.89 | −1.4% |
| 2024-09-06 | $141.81 | −0.6% |
| 2024-09-05 | $142.61 | +1.3% |
| 2024-09-04 | $140.75 | +0.9% |
| 2024-09-03 | $139.50 | −1.3% |
| 2024-08-30 | $141.29 | +1.3% |
| 2024-08-29 | $139.42 | +1.1% |
| 2024-08-28 | $137.88 | −0.4% |
| 2024-08-27 | $138.48 | −0.3% |
| 2024-08-26 | $138.90 | −0.2% |
| 2024-08-23 | $139.19 | +0.8% |
| 2024-08-22 | $138.08 | −1.5% |
| 2024-08-21 | $140.20 | +0.7% |
| 2024-08-20 | $139.17 | +0.9% |
| 2024-08-19 | $137.92 | +0.3% |
| 2024-08-16 | $137.47 | +0.4% |
| 2024-08-15 | $136.93 | +1.0% |
| 2024-08-14 | $135.60 | +1.0% |
| 2024-08-13 | $134.26 | +1.3% |
| 2024-08-12 | $132.58 | +0.4% |
| 2024-08-09 | $132.06 | +2.4% |
| 2024-08-08 | $128.96 | +2.4% |
| 2024-08-07 | $125.90 | −1.8% |
| 2024-08-06 | $128.21 | +0.3% |
| 2024-08-05 | $127.86 | −4.1% |
| 2024-08-02 | $133.28 | −3.1% |
| 2024-08-01 | $137.51 | −1.4% |
| 2024-07-31 | $139.45 | +2.8% |
| 2024-07-30 | $135.67 | −1.9% |
| 2024-07-29 | $138.31 | −0.5% |
| 2024-07-26 | $139.01 | +0.9% |
| 2024-07-25 | $137.82 | −0.7% |
| 2024-07-24 | $138.77 | −3.0% |
| 2024-07-23 | $143.11 | +2.1% |
| 2024-07-22 | $140.17 | +1.2% |
| 2024-07-19 | $138.56 | +0.4% |
| 2024-07-18 | $138.03 | −0.9% |
| 2024-07-17 | $139.26 | −2.3% |
| 2024-07-16 | $142.61 | −0.3% |
| 2024-07-15 | $143.07 | −1.2% |
| 2024-07-12 | $144.77 | +1.4% |
| 2024-07-11 | $142.76 | +0.5% |
| 2024-07-10 | $142.07 | +1.0% |
| 2024-07-09 | $140.68 | −3.0% |
| 2024-07-08 | $145.03 | +0.1% |
| 2024-07-05 | $144.83 | +0.3% |
| 2024-07-03 | $144.38 | +0.8% |
| 2024-07-02 | $143.28 | +0.1% |
| 2024-07-01 | $143.09 | +1.3% |
| 2024-06-28 | $141.20 | +0.7% |
| 2024-06-27 | $140.18 | +1.4% |
| 2024-06-26 | $138.23 | −0.7% |
| 2024-06-25 | $139.17 | −0.5% |
| 2024-06-24 | $139.89 | −1.1% |
| 2024-06-21 | $141.50 | −1.0% |
| 2024-06-20 | $142.91 | −1.2% |
| 2024-06-18 | $144.64 | +2.4% |
| 2024-06-17 | $141.31 | +2.3% |
| 2024-06-14 | $138.13 | −1.2% |
| 2024-06-13 | $139.85 | −0.4% |
| 2024-06-12 | $140.38 | +13.3% |
| 2024-06-11 | $123.88 | −0.5% |
| 2024-06-10 | $124.50 | −1.1% |
| 2024-06-07 | $125.92 | +2.0% |
| 2024-06-06 | $123.50 | +0.7% |
| 2024-06-05 | $122.63 | +2.1% |
| 2024-06-04 | $120.07 | +0.7% |
| 2024-06-03 | $119.28 | +1.8% |
| 2024-05-31 | $117.19 | +0.1% |
| 2024-05-30 | $117.09 | −5.4% |
| 2024-05-29 | $123.74 | −0.6% |
| 2024-05-28 | $124.49 | +1.3% |
| 2024-05-24 | $122.91 | −1.0% |
| 2024-05-23 | $124.09 | −0.4% |
| 2024-05-22 | $124.60 | 0.0% |
| 2024-05-21 | $124.63 | +0.1% |
| 2024-05-20 | $124.52 | +0.8% |
| 2024-05-17 | $123.50 | +1.1% |
| 2024-05-16 | $122.16 | +0.4% |
| 2024-05-15 | $121.63 | +0.6% |
| 2024-05-14 | $120.87 | +3.9% |
| 2024-05-13 | $116.37 | −0.3% |
| 2024-05-10 | $116.67 | 0.0% |
| 2024-05-09 | $116.64 | −0.6% |
| 2024-05-08 | $117.39 | −0.5% |
| 2024-05-07 | $117.93 | −0.3% |
| 2024-05-06 | $118.34 | +2.2% |
| 2024-05-03 | $115.80 | +0.7% |
| 2024-05-02 | $114.96 | +0.3% |
| 2024-05-01 | $114.63 | +0.8% |
| 2024-04-30 | $113.75 | −2.4% |
| 2024-04-29 | $116.49 | −0.6% |
| 2024-04-26 | $117.21 | +2.0% |
| 2024-04-25 | $114.89 | −0.4% |
| 2024-04-24 | $115.34 | +0.2% |
| 2024-04-23 | $115.09 | +0.5% |
| 2024-04-22 | $114.53 | −0.3% |
| 2024-04-19 | $114.88 | −1.0% |
| 2024-04-18 | $116.00 | −2.2% |
| 2024-04-17 | $118.67 | −1.6% |
| 2024-04-16 | $120.62 | +0.6% |
| 2024-04-15 | $119.88 | −1.0% |
| 2024-04-12 | $121.11 | −1.7% |
| 2024-04-11 | $123.24 | +1.2% |
| 2024-04-10 | $121.75 | −1.2% |
| 2024-04-09 | $123.23 | −0.9% |
| 2024-04-08 | $124.35 | −0.4% |
| 2024-04-05 | $124.90 | +0.6% |
| 2024-04-04 | $124.19 | −1.6% |
| 2024-04-03 | $126.24 | +1.5% |
| 2024-04-02 | $124.34 | −0.9% |
| 2024-04-01 | $125.48 | −0.1% |
| 2024-03-28 | $125.61 | +0.3% |
| 2024-03-27 | $125.27 | −0.9% |
| 2024-03-26 | $126.47 | +0.3% |
| 2024-03-25 | $126.08 | −1.3% |
| 2024-03-22 | $127.79 | −0.9% |
| 2024-03-21 | $129.01 | −0.2% |
| 2024-03-20 | $129.24 | 0.0% |
| 2024-03-19 | $129.19 | +1.1% |
| 2024-03-18 | $127.80 | +1.8% |
| 2024-03-15 | $125.54 | 0.0% |
| 2024-03-14 | $125.53 | 0.0% |
| 2024-03-13 | $125.52 | −1.6% |
| 2024-03-12 | $127.54 | +11.7% |
| 2024-03-11 | $114.13 | +1.5% |
| 2024-03-08 | $112.42 | −1.9% |
| 2024-03-07 | $114.54 | +2.0% |
| 2024-03-06 | $112.27 | +1.2% |
| 2024-03-05 | $110.94 | −2.7% |
| 2024-03-04 | $114.06 | +0.2% |
| 2024-03-01 | $113.78 | +1.9% |
| 2024-02-29 | $111.68 | 0.0% |
| 2024-02-28 | $111.68 | +0.3% |
| 2024-02-27 | $111.38 | +0.4% |
| 2024-02-26 | $110.97 | −0.9% |
| 2024-02-23 | $111.95 | +0.8% |
| 2024-02-22 | $111.01 | +2.6% |
| 2024-02-21 | $108.16 | −0.3% |
| 2024-02-20 | $108.45 | −2.6% |
| 2024-02-16 | $111.31 | −1.3% |
| 2024-02-15 | $112.78 | −1.3% |
| 2024-02-14 | $114.26 | +0.5% |
| 2024-02-13 | $113.68 | −1.9% |
| 2024-02-12 | $115.84 | −0.7% |
| 2024-02-09 | $116.64 | 0.0% |
| 2024-02-08 | $116.68 | −0.5% |
| 2024-02-07 | $117.27 | +1.7% |
| 2024-02-06 | $115.30 | −0.9% |
| 2024-02-05 | $116.39 | +0.5% |
| 2024-02-02 | $115.79 | +0.2% |
| 2024-02-01 | $115.53 | +3.4% |
| 2024-01-31 | $111.70 | −2.2% |
| 2024-01-30 | $114.16 | +0.4% |
| 2024-01-29 | $113.75 | −0.8% |
| 2024-01-26 | $114.64 | −0.3% |
| 2024-01-25 | $115.00 | +0.6% |
| 2024-01-24 | $114.31 | +2.2% |
| 2024-01-23 | $111.83 | +1.6% |
| 2024-01-22 | $110.10 | +0.4% |
| 2024-01-19 | $109.67 | +0.9% |
| 2024-01-18 | $108.70 | +2.1% |
| 2024-01-17 | $106.43 | −0.1% |
| 2024-01-16 | $106.57 | 0.0% |
| 2024-01-12 | $106.60 | +1.7% |
| 2024-01-11 | $104.77 | +0.8% |
| 2024-01-10 | $103.92 | +0.3% |
| 2024-01-09 | $103.63 | −1.0% |
| 2024-01-08 | $104.66 | +1.9% |
| 2024-01-05 | $102.73 | +0.1% |
| 2024-01-04 | $102.59 | +0.1% |
| 2024-01-03 | $102.46 | −1.5% |
| 2024-01-02 | $104.06 | −1.3% |
| 2023-12-29 | $105.43 | −0.8% |
| 2023-12-28 | $106.25 | +0.3% |
| 2023-12-27 | $105.94 | −0.2% |
| 2023-12-26 | $106.19 | 0.0% |
| 2023-12-22 | $106.20 | +0.3% |
| 2023-12-21 | $105.86 | +1.6% |
| 2023-12-20 | $104.15 | −2.0% |
| 2023-12-19 | $106.25 | +1.2% |
| 2023-12-18 | $105.00 | +1.6% |
| 2023-12-15 | $103.32 | +3.0% |
| 2023-12-14 | $100.31 | −2.6% |
| 2023-12-13 | $102.99 | +2.2% |
| 2023-12-12 | $100.81 | −12.4% |
| 2023-12-11 | $115.13 | +1.3% |
| 2023-12-08 | $113.61 | +0.7% |
| 2023-12-07 | $112.87 | +0.7% |
| 2023-12-06 | $112.03 | −2.2% |
| 2023-12-05 | $114.53 | −1.1% |
| 2023-12-04 | $115.78 | −1.2% |
| 2023-12-01 | $117.16 | +0.8% |
| 2023-11-30 | $116.21 | 0.0% |
| 2023-11-29 | $116.21 | 0.0% |
| 2023-11-28 | $116.24 | −0.2% |
| 2023-11-27 | $116.47 | +0.2% |
| 2023-11-24 | $116.25 | 0.0% |
| 2023-11-22 | $116.24 | +0.1% |
| 2023-11-21 | $116.08 | −0.7% |
| 2023-11-20 | $116.92 | +1.4% |
| 2023-11-17 | $115.36 | +0.6% |
| 2023-11-16 | $114.67 | +0.5% |
| 2023-11-15 | $114.06 | −1.8% |
| 2023-11-14 | $116.10 | +1.7% |
| 2023-11-13 | $114.15 | +1.0% |
| 2023-11-10 | $113.07 | +0.8% |
| 2023-11-09 | $112.18 | −0.1% |
| 2023-11-08 | $112.33 | +3.1% |
| 2023-11-07 | $108.99 |
Nov. 6 is not in the chart: the day had not closed when this story was written. Source: Tiingo end-of-day closes, as traded, via KeyVex.Chart data
What Oracle has said about older chips
Magouyrk's call covered Oracle's quarter from June through August.10-Q On it, he put the use of Oracle's GPUs at 97.9%.Call transcript Oracle said it booked more than $30 billion of new AI cloud contracts in that quarter.Q1 release
Oracle's Nov. 6 statement pointed back to the 20% figure, for long-term contracts, crypto.news reported. It did not say what Microsoft's contract was worth or who takes the capacity Microsoft is leaving.crypto.news
How long Oracle counts on its servers
Oracle's quarterly report lists its servers and networking equipment with an estimated useful life of six years, the same as its annual report.10-Q10-K
The buildings run longer. At Aug. 31, Oracle had signed $288 billion of leases, substantially all for data centers, that had not started yet. They are generally expected to begin between Oracle's quarter ending Nov. 30, 2026 and fiscal 2029, and run 15 to 19 years.10-Q
Its customers' commitments run long too. Oracle's backlog of signed contracts was $664 billion at Aug. 31, up from $455 billion a year earlier. It expects to book about 13% of it as revenue in the next 12 months.10-Q
0%10%20%30%40%
13%
37%
34%
16%
Next 12 monthsMonths 13 to 36Months 37 to 60After that
View the data
| When Oracle expects to book it | Share of the $664 billion backlog | Note |
|---|---|---|
| Next 12 months | 13% | About 13% of $664 billion (10-Q) |
| Months 13 to 36 | 37% | About 37% (10-Q) |
| Months 37 to 60 | 34% | About 34% (10-Q) |
| After that | 16% | The remainder, 16% by KeyVex's math |
Source: Oracle's 10-Q for the quarter ended Aug. 31, 2026, Note 1. The last bar is the remainder, by KeyVex's math.Data
Microsoft's side
Microsoft has signed leases of its own. At Sept. 30 it had $364.6 billion of leases, primarily for data centers, that had not started, running 1 to 20 years, its quarterly report shows.Microsoft 10-Q The filing does not connect them to the Oracle arrangement.
Data center leases Microsoft and Oracle have signed but not yet startedShow chartHide chart
View the data
| Company | Leases signed, not yet started | Note |
|---|---|---|
| Microsoft (leases not yet started, Sept. 30, 2026, 1 to 20 years) | $364.6B | Primarily datacenters; starting fiscal 2027 to fiscal 2034 (Microsoft 10-Q) |
| Oracle (leases not yet started, Aug. 31, 2026, 15 to 19 years) | $288B | Substantially all data centers; starting the second quarter of fiscal 2027 to fiscal 2029 (Oracle 10-Q) |
Source: Microsoft's 10-Q for the quarter ended Sept. 30, 2026, and Oracle's 10-Q for the quarter ended Aug. 31, 2026. The two companies' leases differ in length and start dates, and some of Microsoft's are subject to contractual conditions.Data
Bloomberg also reported, on Nov. 5, that Microsoft was tightening oversight of some data center projects run by AI cloud providers including IREN, Nebius and Nscale, Reuters said. IREN said that day it had delayed some deliveries after Microsoft asked for changes to its network design.Reuters
Who reads it differently
Daniel Sparks, writing for The Motley Fool in September, called Oracle's renewal pricing "arguably the most convincing answer" it had given to the fear that AI hardware wears out before it pays for itself.Motley Fool He saw a limit too, writing that "one quarter of renewals on a small early fleet isn't proof the model works at the scale Oracle is now spending."Motley Fool
What the records leave open is the capacity itself. Neither company's filings say whether Microsoft's was among the renewals Oracle counted in its June-to-August quarter, and Oracle has not said who will use it.10-Qcrypto.news
What to watch
Oracle's fiscal second quarter ends: the first quarter in which its 10-Q says its $288 billion of data center leases are generally expected to start.10-Q
The last of Oracle's $288 billion of leases are generally expected to begin, Oracle's 10-Q says. Its fiscal 2029 ends May 31, 2029.10-Q
The last of Microsoft's $364.6 billion of leases begin, by its 10-Q.Microsoft 10-Q
The paper trail
The filings cited here, with the time EDGAR accepted them (Eastern), June 22 through Oct. 28, 2026.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| Oct. 28, 2026, 4:07 p.m. | 10-Q | Microsoft | Quarterly report: $364.6 billion of leases, primarily data centers, not yet started; not connected to Oracle in the filing. |
| Sept. 11, 2026, 4:10 p.m. | 10-Q | Oracle | Quarterly report: servers booked over six years; $288 billion of leases not yet started; $664 billion backlog and its timing. |
| Sept. 10, 2026, 4:16 p.m. | EX-99.1 | Oracle | First-quarter fiscal 2027 results: more than $30 billion of new AI cloud contracts, backlog of $664 billion. |
| June 22, 2026, 4:12 p.m. | 10-K | Oracle | Annual report for the year ended May 31, 2026: servers and networking equipment, six-year useful life. |
Related coverage
Sources
14 sources, 5 of them public records
Public records
- Oracle Corporation, Form 10-Q for the quarter ended Aug. 31, 2026SEC EDGAR · Sept. 11, 2026
- Oracle first-quarter fiscal 2027 results (Form 8-K, Exhibit 99.1)SEC EDGAR · Sept. 10, 2026
- Oracle Corporation, Form 8-K, Item 2.02: first-quarter fiscal 2027 resultsSEC EDGAR · Sept. 10, 2026
- Oracle Corporation, Form 10-K for the fiscal year ended May 31, 2026SEC EDGAR · June 22, 2026
- Microsoft Corporation, Form 10-Q for the quarter ended Sept. 30, 2026SEC EDGAR · Oct. 28, 2026
Reporting
- Oracle (ORCL) Q1 2027 earnings call transcriptThe Motley Fool · Sept. 11, 2026
- "Microsoft is winding down Oracle deal to rent AI cloud capacity, Bloomberg News reports" (Reuters, via Investing.com)Reuters · Nov. 6, 2026
- "Oracle falls 4% as Microsoft reportedly winds down AI cloud capacity deal"Investing.com · Nov. 6, 2026
- "Microsoft winds down Oracle AI cloud capacity agreement" (quotes Oracle's Nov. 6 statement)crypto.news · Nov. 6, 2026
- "Oracle Says Its Expiring AI Contracts Are Renewing 20% Higher", Daniel Sparks (The Motley Fool, via Yahoo Finance)Yahoo Finance · September 2026
- Benzinga on Oracle's 20% GPU renewal premiumBenzinga · September 2026
- "Microsoft signs multi-year agreement to use Oracle Cloud"DatacenterDynamics · Nov. 7, 2023
- "Microsoft and Oracle Collaborate on Bing Conversational Search"Database Trends and Applications · Nov. 15, 2023
Data
- Daily prices for ORCL and QQQ (Tiingo) and the ORCL intraday quote (Tiingo IEX)KeyVex · through Nov. 6, 2026
How we got these numbers
- Bloomberg's Nov. 6 report is cited as Reuters and Investing.com relayed it; we did not read Bloomberg's own article, and every fact from it is attributed to Bloomberg and its unnamed sources. Oracle's Nov. 6 statement is quoted as crypto.news printed it; Investing.com separately reports Oracle pointing to the same September 20% figure. Oracle's own 2023 press release did not load for us, so the deal's date and terms come from DatacenterDynamics and Database Trends and Applications, which printed the same wording, and Reuters.
- Magouyrk's words are from The Motley Fool's transcript of Oracle's fiscal first-quarter 2027 call; Yahoo Finance and Benzinga quote the same words. "Q1" on the call is Oracle's fiscal first quarter, June 1 to Aug. 31, 2026. Oracle's fiscal year ends May 31, so its second quarter ends Nov. 30, 2026.
- Backlog is Oracle's remaining performance obligations: $664 billion at Aug. 31, 2026, of which Oracle expects about 13% in the next 12 months, 37% in months 13 to 36 and 34% in months 37 to 60. The last 16% is the remainder, KeyVex's math. Lease figures are each company's additional leases not yet commenced: Oracle $288 billion at Aug. 31, 2026 (15 to 19 years, starting the second quarter of fiscal 2027 through fiscal 2029); Microsoft $364.6 billion at Sept. 30, 2026 (1 to 20 years, starting fiscal 2027 through fiscal 2034, some subject to contractual conditions).
- Reports on Nov. 6 differed on the stock: Reuters had it flat in afternoon trading, Investing.com had it down 4%. Prices are as traded: ORCL closed at $152.94 on Sept. 10, $123.73 on Nov. 4 and $115.16 on Nov. 5, 2026; $115.16 against $152.94 is -24.7%, and against $123.73 is -6.9%. QQQ fell 6.5% on Nov. 5. The Nov. 6 price is Tiingo's IEX last at 2:24 p.m. ET ($115.01), not a close.
- The comparison lines in the stock chart follow SPY (S&P 500) and QQQ (Nasdaq 100), as traded, rebased. The Filings switch shows the filing markers from KeyVex's Oracle stock page, a selection of congressional trades, insider sales, Form 144 notices, 8-Ks and lobbying filings: not every filing, and not only those tied to this story. The header image was generated for KeyVex by an image model. It is an illustration, not a photograph of an Oracle or Microsoft data center. This is a reading of the companies' filings and news reports, not investment advice.