Oracle renewed its expiring GPU compute contracts at roughly 20% higher rates, despite most of these GPUs being over four years old. The company’s GPU utilization rate reached 97.9% in the first quarter, and it secured more than $30 billion in new AI cloud contracts, bringing its remaining performance obligations to $664 billion. Oracle delivered more than 300,000 GPUs to its AI cloud customers, including OpenAI, xAI, Meta, NVIDIA, and AMD, while adding 850 megawatts of capacity. Buoyed by these results, the company raised its FY2027 revenue guidance to at least $90 billion, representing 34% year-over-year growth.
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