Oracle makes headlines with a monumental $30 billion cloud contract set to boost its revenue significantly by 2028. Meanwhile, BitMine's stock soars as it secures funding for Bitcoin mining, highlighting the growing crypto interest. The podcast also dives into a staggering 694% stock surge from one company, while discussing challenges faced by major players like Amazon and Tesla. Additionally, Boeing shakes up its leadership with a new CFO, signaling strategic changes in the aerospace giant.
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insights INSIGHT
HPE's Deal Settlement Preserves Competition
HPE gained 11% after the DOJ settled a lawsuit on its $13 billion Juniper Networks takeover, requiring divestitures to preserve competition.
The settlement avoids a trial and protects market competition in global networking.
insights INSIGHT
Oracle's Massive $30B Cloud Deal
Oracle signed a single cloud deal worth $30 billion annually, expected to start revenue flow in fiscal year 2028.
This deal is nearly three times Oracle's current cloud infrastructure business size, marking it as one of the largest cloud contracts ever.
insights INSIGHT
BitMine's Surging Stock and New Strategy
BitMine's stock surged 694% after announcing a $250 million private placement to fund an Ether treasury.
The company also appointed Thomas Lee, founder of Fundstrat, as chairman, following a model seen with Michael Saylor.
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Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Carol Massar and Matt Miller.
- Oracle (ORCL) shares were higher after it said it signed a single cloud deal worth $30 billion in annual revenue — more than the current size of its entire cloud infrastructure business. That revenue is expected to start flowing in the fiscal year 2028, Oracle disclosed in a regulatory filing Monday, without naming the customer.“ Oracle is off to a strong start” in its fiscal year 2026, Chief Executive Officer Safra Catz said in the filing. The company has signed “multiple large cloud services agreements,” she said, adding that revenue from Oracle’s namesake database that runs on other clouds continues to grow more than 100%.The $30-billion deal ranks among the largest cloud contracts on record. That revenue alone would represent nearly three times the size of Oracle’s current infrastructure business, which totaled $10.3 billion over the past four quarters. A major cloud contract awarded in 2022 from the US Defense Department, that runs through 2028 and could be worth as much as $9 billion, is split among four companies, including Oracle. That award was a shift after an earlier contract worth $10 billion was awarded to Microsoft Corp. and was contested in court.
- BitMine (BMNR) was among the day's biggest movers after the crypto company announced a new $250 million placement.
- Boeing (BA) shares slid after hours when it announced it will be replacing chief financial officer Brian West. West, who helped orchestrate one of the biggest capital raises in US corporate history last year to steady the crisis-stricken plane-maker, is stepping down. West is leaving in mid-August and will be succeeded by former Lockheed Martin executive Jesus “Jay” Malave. West will remain an adviser to Chief Executive Officer Kelly Ortberg, Boeing said in a statement on Monday. Both changes are effective Aug. 15, the company said. The staffing change marks the highest-profile personnel switch since Ortberg took over the top role at the planemaker last year. West helped Ortberg navigate a capital squeeze and avoid a possible ratings downgrade to junk status, brought on by a crippling strike last year and a steep slowdown in output after a near-catastrophic accident.
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