Cloud
Subject to final board approval, the deal would significantly extend ORCL's growing book of AI infrastructure contracts. Identity of customer not disclosed; commentary expected on next earnings call.
6.1k reads·4 theses
Angle
ORCL's RPO is moving in a way that makes the multiple cheap if the deal closes. MSFT/AMZN cloud share concerns rise — relative-value short of MSFT vs long ORCL is the cleanest expression of the share-shift thesis.