Wall Street Breakfast Oracle dips despite backlog growth
Mar 11, 2025
Oracle is eyeing a 20% revenue growth by fiscal 2027, fueled by expansions in cloud and AI. Meanwhile, Tesla faces a major setback with a significant drop in stock prices due to revised delivery expectations. In an exciting development, CoreWeave has inked an $11.9 billion deal with OpenAI to bolster infrastructure. Additionally, the podcast discusses the rising influence of solar energy, which is projected to make up 84% of new electricity sources in the U.S., even as policy uncertainties linger.
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Oracle's Backlog Growth and Market Reaction
- Oracle's Q3 results slightly missed Wall Street's expectations, despite exceeding $100B in remaining performance obligations.
- The company's sales backlog grew significantly, reaching $130B, driven by cloud and AI deals.
Tesla's Stock Plunge
- Tesla's stock experienced its worst single-day drop since 2020 due to lowered Q1 delivery expectations.
- Concerns arose from reports in Europe and China, leading analysts to reduce estimates.
CoreWeave and OpenAI's Deal
- CoreWeave secured an $11.9B deal with OpenAI to provide AI infrastructure over five years.
- This agreement supports CoreWeave's upcoming IPO and diversifies OpenAI's infrastructure.