cloud & hyperscalers · 產業指數 22 (排名 #17) ·
價格: 截至 2026-10-30 指數: 截至 2026-10-30 基本面: 最新申報文件 2026-09-25 按季揭露（10-Q XBRL）
Oracle is an enterprise software and database company whose Oracle Cloud Infrastructure has become a major provider of AI training and inference capacity.
產業曝險 0.6 (Oracle has pivoted OCI heavily toward AI, signing giant GPU-cloud contracts (e.g. OpenAI/Stargate) that now drive a majority of its bookings and backlog growth.)
延遲的日終逐合約彙總資料——不是即時盤口，也不是逐筆資金流。買賣方向是根據每個合約最後一筆成交在買賣價差中的位置推斷出來的，並非觀測到的委託流。除非有報價的合約佔當日權利金的四分之一以上，否則公司層級的方向會被隱去，因此下方個別合約有方向時這裡也可能為空。買權/賣權權利金是在我們擷取的合約範圍內計算的——最近的 6 個到期日、45 天以內，並非完整選擇權鏈——而下表最多列出 20 個被標記的合約，所以把這些列加總不會還原出上面的百分比。
標記原因：matches: SambaNova and Oracle plan SN50 inference capa…
| 日期 | 合約 | 異常分數 | 買賣方向（推斷）? | 未平倉變動? | 成交量 | 成交量/未平倉 | 標記 |
|---|---|---|---|---|---|---|---|
| 2026-10-30 | $135 CALL | 69 | 賣方主動 | +66 | 5,307 | 11.3× | |
| 2026-10-30 | $122 PUT | 64 | 買方主動 | +29 | 3,782 | 4.3× | |
| 2026-10-30 | $125 PUT | 57 | 價差中段 · 無法判定方向 | +10 | 3,311 | 3.7× | |
| 2026-10-30 | $140 CALL | 56 | 賣方主動 | +7,094 | 10,788 | 1.1× | |
| 2026-10-30 | $135 CALL | 55 | 賣方主動 | -43 | 5,476 | 3.0× | |
| 2026-10-30 | $121 PUT | 53 | 賣方主動 | +15 | 1,616 | 2.6× | |
| 2026-10-30 | $136 CALL | 52 | 價差中段 · 無法判定方向 | +102 | 940 | 1.9× | |
| 2026-10-30 | $128 PUT | 49 | 買方主動 | +143 | 1,544 | 1.3× | |
| 2026-10-30 | $130 PUT | 48 | 賣方主動 | +468 | 12,985 | 5.5× | |
| 2026-10-30 | $141 CALL | 48 | 賣方主動 | +389 | 1,739 | 1.4× | |
| 2026-10-30 | $145 CALL | 42 | 買方主動 | +7,468 | 5,733 | 0.5× | |
| 2026-10-30 | $125 PUT | 41 | 買方主動 | +520 | 2,251 | 0.5× | |
| 2026-10-30 | $134 CALL | 41 | 賣方主動 | -102 | 800 | 2.1× | |
| 2026-10-30 | $127 PUT | 40 | 買方主動 | +204 | 1,061 | 0.7× | |
| 2026-10-30 | $138 CALL | 40 | 買方主動 | +580 | 852 | 0.7× |
5 smaller flags (under $100000 premium) hidden.
最近交易日：為 13 日基準的 1.2 倍
買權 34% / 賣權 66%（按權利金）
新聞 撐起了這次判斷——幾乎全部傾向都由它貢獻，其餘投票者大致相互抵銷。
多數投票者傾向一致；新聞 投了反對票。方向一致度 0.69。
一個明確的看空分數；信心度 0.50 反映的是代理人之間的一致強度。信心度是信心，不是價格變動的機率。
Oracle pairs the deepest switching-cost franchise in enterprise software — the #1-ranked database (DB-Engines, August 2026) plus Fusion/NetSuite back-office suites, with support attach near-universal per the FY2026 10-K — with a late but explosive push into AI cloud infrastructure: Q4 FY2026 IaaS revenue grew 93% to $5.8B and RPO reached $638B (up 363% YoY), mostly large-scale AI contracts (press release, June 10, 2026). The two reinforce each other via multicloud — Oracle Multicloud AI Database grew 404% in Q4 running inside rival clouds. The offsets: in cloud infrastructure Oracle is still a ~4%-share challenger behind AWS/Microsoft/Google (Synergy Q2 2026 data via The Register), the AI buildout drove FY2026 free cash flow to negative $23.7B, and the Cerner-based Oracle Health business has lost US hospital share for three straight years (KLAS 2026).
評級: 寬
Oracle's FY2026 10-K (fiscal year ended May 31, 2026) describes an installed base in which "substantially all customers opt to purchase software support contracts when they purchase an Oracle software license"; that entrenchment shows up externally as the #1 DB-Engines database ranking (August 2026, first of 435 systems) and $638B of contracted Remaining Performance Obligations at Q4 FY2026 (press release, June 10, 2026) — a durable, multi-decade lock on mission-critical enterprise data layers.
類型: 轉換成本
The core moat is the cost of moving mission-critical databases and back-office suites: the FY2026 10-K notes substantially all license customers attach support contracts and that Oracle's Multicloud Database offerings run Oracle AI Database inside other hyperscalers' clouds — monetizing the installed base even when the customer's infrastructure leaves; the KLAS 2026 EHR report shows the same dynamic in health IT, where roughly a third of Oracle Health customers want to leave but feel unable to do so.
領先地位: 並列領先者
Split by line: clear leader in database (DB-Engines August 2026 ranks Oracle #1 and Oracle-owned MySQL #2 of 435 systems); one of the largest enterprise-application vendors ($15.9B FY2026 SaaS revenue, competing with SAP, Salesforce, Workday and Microsoft per the FY2026 10-K); but in cloud infrastructure a ~4%-share fast-growing challenger behind Amazon (28%), Microsoft (20%) and Google (15%) per Synergy Q2 2026 data (The Register, 2026-08-01), and #2 in US acute-care EHR behind Epic (KLAS 2026).
定價權: 中等
Strong in the installed base — the FY2026 10-K states substantially all license customers purchase support contracts, a recurring stream customers rarely drop — but the same 10-K lists "total cost of ownership" first among key competitive factors and describes intense competition across every segment; AI-infrastructure deals are won against hyperscalers and neoclouds, and Q4 FY2026 SaaS grew a moderate 10% versus 93% for IaaS (press release, June 10, 2026).
依所引來源做出的人工整理護城河判斷。 來源：sec.gov
層級: cloud & hyperscalers
Supply-chain role in AI: OCI sells GPU compute for AI training and inference — the Q4 FY2026 press release attributes most of the $85B sequential RPO increase to large-scale AI contracts (some with customer-prepaid or customer-supplied GPUs totaling $75B) and guides FY2027 total revenue to $90B — making Oracle a primary capacity supplier to AI model builders.
由這家公司已對應的供應鏈關係及其所屬產業層級推導而來。
護城河先驗在長週期（約 6 個月）投出 +0.30 票，權重為 0.20——該週期上的群體判斷是 bullish（分數 0.32，信念度 21）。
編輯先驗——主觀、未經回測。它有界（±0.6）、低信賴度，且從不對短週期與中週期投票。 檢視它究竟如何投票 →
產品與服務，附編輯判定的市佔區間與技術門檻區間——這些是與所引依據綁定的定性判斷，絕非杜撰的數字。
| 產品 | 市場佔有率 | 技術門檻 |
|---|---|---|
| Oracle AI Database (incl. Autonomous & Multicloud) · Database management systems Flagship relational/multi-model DBMS plus Oracle Autonomous AI Database and Multicloud Database offerings that run inside AWS, Azure and Google clouds; MySQL/HeatWave for open-source workloads (FY2026 10-K). | 領先 DB-Engines ranking, August 2026: Oracle is the #1 database management system of 435 ranked (score 1123), with Oracle-owned MySQL at #2 — positions both have held for years. | 深 Mission-critical data workloads carry classic deep switching costs: the FY2026 10-K states substantially all license customers attach support contracts, and the Multicloud Database offerings extend the lock by running Oracle AI Database inside rival hyperscalers' clouds. |
| Oracle Cloud Applications (Fusion & NetSuite SaaS) · Enterprise SaaS applications Fusion Cloud ERP/EPM/SCM, HCM and CX suites for enterprises plus the NetSuite suite for small/mid-size organizations, built on a common data model atop OCI (FY2026 10-K). | 前三 No independent share tracker cited; basis is scale and the competitive set — FY2026 SaaS revenue was $15.9B, up 11% (press release, June 10, 2026), and the FY2026 10-K positions OCA against SAP, Salesforce, Workday and Microsoft, describing the suite as an industry-leading business innovation platform (issuer's own characterization). | 深 ERP/HCM are core-of-business systems: the FY2026 10-K describes a common data model spanning finance, HR, supply chain and CX that makes Fusion ERP "foundational" to adopting the rest of the suite — replacing an entire back office is a rare, multi-year event. |
| Oracle Cloud Infrastructure (OCI) · Cloud / AI infrastructure (IaaS) GPU-based AI infrastructure, compute, storage, networking and cloud-native services, delivered via public regions plus Cloud@Customer, Dedicated Region and Sovereign Cloud deployment options (FY2026 10-K). | 挑戰者 Synergy Research Q2 2026 data (via The Register, 2026-08-01): Oracle holds ~4% of cloud-infrastructure spend versus Amazon 28%, Microsoft 20%, Google 15%, but is named among the fastest-growing tier-two providers; Oracle's own Q4 FY2026 IaaS revenue grew 93% YoY to $5.8B. | 中等 Data-center capital intensity and $638B of contracted RPO (Q4 FY2026 press release) protect the booked business, but the AI-infrastructure segment itself is contested — Synergy's Q2 2026 fast-grower list also includes CoreWeave, OpenAI, Crusoe, Nebius, Anthropic and Nscale — and FY2026 free cash flow was negative $23.7B funding the buildout. |
| Oracle Health (Cerner) · Healthcare IT / EHR Hospital and clinic patient-care management (EHR) suite from the Cerner acquisition; a rebuilt AI version is expected to push Oracle Health growth to double digits in FY2027 (Q4 FY2026 press release). | 前三 KLAS US Acute Care EHR Market Share 2026 (via healthsystemcio.com, 2026-05-14): Oracle Health is #2 at 21.9% of US acute-care hospitals and 20.4% of beds, behind Epic (43.7% / 56.9%) and ahead of Meditech (14.7% / 12.5%). | 中等 EHR switching costs are real — KLAS finds roughly a third of Oracle Health customers want to leave but feel unable to do so — yet they are being breached: 2025 was the third straight year of the largest net losses of any tracked vendor (down 56 hospitals and 14,676 beds; 173 hospitals lost since 2021, mostly to Epic). |
這些圖表繪製的是 Oracle 在其 SEC 申報文件中已申報的損益表、現金流量表與資產負債表（截至 2026-09-25）。每一個數字都是申報原值 XBRL——沒有任何一項是預估。
在已申報的區間內，FY2026 淨利為 $17.0B。
分析師一致預期——來自 Yahoo Finance 的第三方預估，截至 2026-10-26。這不是 SEC 申報文件，也不是 TradingPilot 的預測。 來源：finance.yahoo.com
| 期間 | 每股盈餘（預估） | 營收（預估） | 年增率 |
|---|---|---|---|
| Q/E Nov 2026 | USD 1.89 (USD 1.81–USD 2.04) · 33 | USD 21.3B (USD 21.2B–USD 21.5B) · 30 | +33% |
| FY 2027 | USD 8.14 (USD 8.07–USD 8.37) · 37 | USD 90.4B (USD 89.1B–USD 91.7B) · 39 | +34% |
每個數字顯示一致預期平均值、可得時的（最低–最高）區間，以及 · 後面給出該預估背後的分析師人數。
下次財報約在 2026-12-14。
我們的模型在中週期上對這檔股票偏向 Low-confidence · Neutral——這是對市場方向的判斷，不是對獲利的預測。檢視「訊號」分頁。
部分近期數字取自 Yahoo Finance，用來補上最新 SEC 申報尚未發布的期間——已換算為美元，並與 SEC 申報期間核對過。
正在與同業比較…
| 機構 | 股數 | 金額 | 季增減股數 | 佔 13F 比例 | 佔流通股比例 |
|---|---|---|---|---|---|
| BlackRock 被動 / 指數 | 145,353,687 | $21.3B | 2,043,313 | 0.3% | 4.79% |
| State Street 被動 / 指數 | 78,645,193 | $11.5B | 2,342,018 | 0.3% | 2.59% |
| FMR (Fidelity) 被動 / 指數 | 26,025,909 | $3.8B | 3,145,069 | 0.2% | 0.86% |
| Bridgewater Associates (Ray Dalio (founder)) 大師 | 1,432,967 | $210.0M | -159,102 | 0.9% | 0.05% |
| Renaissance Technologies 大師 | 1,669 | $245448 | 1,669 | 0.0% | 0.00% |
TradingPilot 計算的欄位（佔 13F 比例、佔流通股比例）由申報原值推導而來；只有名稱、股數與金額是申報原值。
Yahoo Finance (Business Wire) · 2026-10-27 · 合作
SambaNova and Oracle announced plans to deploy SambaNova inference systems in OCI data centers. Oracle plans to host the systems and offer the capacity to AI model builders; the announcement describes a planned deployment.
Yahoo Finance (PR Newswire) · 2026-10-27 · 產品
Oracle and Google announced that Google TPUs will be offered through OCI. Oracle will provide the power, cooling and data-center networking for the deployment, adding another compute architecture to its AI portfolio.
Yahoo Finance (PR Newswire) · 2026-10-27 · 產品
Oracle introduced additional Acceleron networking capabilities aimed at data movement, distributed AI workloads, fault recovery and multi-tenant cluster security. The announcement extends OCI’s networking and infrastructure portfolio.
Yahoo Finance (Business Wire) · 2026-10-27 · 產品
Intel and Oracle announced a planned multiyear collaboration covering current and future Xeon platforms, capacity planning and planned Diamond Rapids-based OCI offerings. Future products and roadmap coordination remain plans.
Yahoo Finance (GlobeNewswire) · 2026-10-27 · 合作
Cerebras and Oracle announced plans to make Cerebras inference available through OCI for AI labs, enterprises and developers. The collaboration targets interactive applications and agent workflows; the release does not establish that broad availability has already begun.
NVIDIA Newsroom · 2026-10-27 · 合作
The companies announced plans to expand Vera Rubin infrastructure to multi-gigawatt scale and said Vera Rubin NVL72 systems and Vera CPUs are generally available on OCI. Further planned capacity expansion remains forward-looking.
CNBC · 2026-10-08 · 財報
OpenAI told investors it hit roughly $50 billion in annualized revenue at the end of September, CNBC confirmed, lower than the $68 billion figure widely reported late last month. A person familiar said the $68 billion figure included gross revenue from OpenAI's partners, and that OpenAI cited 77% total run rate growth in its third quarter.
Bloomberg · 2026-10-08 · 產品
Oracle is trucking natural gas directly to data centers to keep several projects on track, including a site outside Salt Lake City that relied on truck deliveries for more than a year while waiting for a gas pipeline, according to people familiar with the work. The company is also using the approach for initial work at a campus being built for OpenAI in Shackelford County, Texas.
Yahoo Finance · 2026-10-07 · 融資
Broadcom is working to assemble a package exceeding $50 billion to finance custom AI chip production for OpenAI, in early-stage talks with Apollo Global Management and Blackstone, according to The Wall Street Journal. Oracle is negotiating with Apollo and Goldman Sachs on financing to procure hardware for a 1-gigawatt data center, and SpaceX has engaged lenders on a $40 billion debt structure to acquire Nvidia processors.
Scout Clean Energy · 2026-10-07 · 合作
Scout Clean Energy signed a virtual power purchase agreement with Oracle for a majority of the output of its operational 300-megawatt Ranchero Wind Farm in Crockett County, Texas. The agreement is part of Oracle's investment in over 1.7 GW of renewable energy projects in Texas.
eSecurity Planet · 2026-10-07 · 監管
A Texas Attorney General filing, reported by Bloomberg, attributes a figure of nearly 20 million affected people to Oracle Health's 2025 breach. Attackers used compromised customer credentials to access legacy Cerner servers that had not yet been migrated into Oracle's newer cloud environment.
Business Insider · 2026-09-14 · 人事
Oracle began a further round of layoffs, which reporting ties to an expanding restructuring programme running alongside its AI capital spending.
Quartz · 2026-09-14 · 融資
Oracle said on 12 September that chairman and founder Larry Ellison has cancelled the Rule 10b5-1 trading plan he had adopted to sell Oracle stock, a plan covering up to 50 million shares worth about $7.5 billion. Oracle's statement reads: "No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock." Oracle gave no reason for the cancellation.
Reuters · 2026-09-12 · 人事
Oracle chairman and CTO Larry Ellison terminated a trading plan, disclosed a day earlier, that would have sold up to $7.5 billion of his Oracle shares. The reversal came days after the company's Q1 report.
24/7 Wall St. · 2026-09-11 · 財報
Oracle's earnings report disclosed AI cloud backlog (remaining performance obligations) of $664 billion, sending the stock up about 7%. Neocloud peers including CoreWeave rose roughly 4% on the read-through to AI infrastructure demand.
Oracle - Investor Relations · 2026-09-10 · 財報
Oracle reported fiscal Q1 results on 2026-09-10 that beat estimates, with total revenue up roughly 30% and cloud infrastructure revenue more than doubling year over year. Management pointed to an AI cloud backlog in the hundreds of billions and raised its outlook, while total debt reached about $125 billion.
KFOX · 2026-09-09 · 產品
Oracle is soliciting up to 2 gigawatts of new renewable generation to serve Project Jupiter, its data center development in Doña Ana County, New Mexico. The request marks a multi-gigawatt power commitment behind Oracle's AI capacity build-out.
Google News: Oracle · 2026-07-15 · 產品
Oracle launched an AI-native expansion of its Fusion Agentic Applications to more builders.
Yahoo Finance · 2026-07-06 · 合作
Oracle announced the third cohort of its Oracle Defense Ecosystem program.
Courthouse News · 2026-07-02 · 監管
Investors filed suit alleging Oracle misled them regarding its cloud deal with OpenAI.
2026-10-29 PR Newswire Financial Services · Polymarket Deepens Partnership With Chainlink as Official Oracle for High-Speed Up/Down Markets and Launches Gold and Silver Trading
2026-10-29 Yahoo Finance: ORCL · Oracle Targets $225B Revenue by 2030 as AI Cloud Build-Out Accelerates
2026-10-28 Yahoo Finance: ORCL · Oracle Stock Rallies As Upbeat Revenue, Cash Flow Forecasts Ease AI Jitters
2026-10-28 Yahoo Finance: ORCL · Oracle Forecasts $30B Cash Flow By FY29, Helping Calm AI Capex Concerns, Pushing ORCL Stock To Its Best Day In Five Months
2026-10-28 Yahoo Finance: ORCL · Stock Market Today, Oct. 28: Oracle Surges on Fiscal 2030 Revenue Guidance of $225 Billion
2026-10-28 Yahoo Finance: ORCL · Oracle Stock Jumps 11% on Rosy Long-Term Targets
2026-10-28 MarketWatch Top Stories · Here’s what just sent Oracle’s stock soaring
2026-10-28 Yahoo Finance: ORCL · Oracle stock soars as it promises the AI spending will start paying for itself
2026-10-28 CNBC Top News · Oracle stock pops 11% as long-term revenue forecast and clarity on financing ease debt concerns
2026-10-28 PR Newswire Financial Services · Oracle Investor Day 2026: Accelerating Value Creation
2026-10-28 Yahoo Finance: INTC · Oracle has a spending question its new chip deals can’t answer
2026-10-28 Yahoo Finance: SNOW · Is Oracle Stock Worth Buying as Autonomous Database Use Keeps Growing?
2026-10-28 Business Wire AI · F5 and Oracle Collaborate to Strengthen Application Security in the AI Era
2026-10-28 Yahoo Finance: CBRS · Cerebras Gains 10% on Oracle Cloud Deal as “AI Inference Demands Choice”
2026-10-27 PR Newswire Tech · Oracle Plans to Expand Multicloud AI Database Services to US Government and Public Sector Workloads
2026-10-27 Business Wire AI · SambaNova and Oracle Collaborate to Bring High-Performance Inference to Oracle Cloud Infrastructure
2026-10-27 Yahoo Finance: ORCL · SambaNova and Oracle Collaborate to Bring High-Performance Inference to Oracle Cloud Infrastructure
2026-10-27 PR Newswire Health · Oracle Advances Enterprise Security for the AI Era
2026-10-27 Yahoo Finance: ORCL · Oracle Advances Enterprise Security for the AI Era
2026-10-27 Yahoo Finance: ORCL · Oracle Introduces Oracle Media Fabric
影響 = 公司顯著度層級（高/中由圖譜中心度與規模自動判定；低僅用於人工整理的次要事件），並非對波動幅度的預測。
| 日期 | 類型 | 事件 | 影響 |
|---|---|---|---|
| 2026-12-14 | 財報 | Oracle earnings — Company-confirmed date. 已確認 | 高 |
| 日期 | 事件 | 影響 | 結果 |
|---|---|---|---|
| 2026-09-10 | Oracle earnings 已確認 | 高 | 每股盈餘優於預期 · 營收優於預期 · -1.7% |
| 2026-06-10 | Oracle earnings 已確認 | 高 | 每股盈餘優於預期 · -8.5% |
