Key Highlights

● Oracle projected at least $225 billion in fiscal 2030 revenue.

● The company capped new fundraising at $20 billion.

● Capital expenditure is expected to peak in fiscal 2027 and 2028.

● Shares ranked among the S&P 500's biggest gainers.

Oracle (NYSE:ORCL) soared on Wednesday, October 28, delivering one of the biggest gains among large companies in the S&P 500 after management laid out an ambitious long-term plan at its investor day.

Reports differed on the precise size of the jump, but the move was large enough that some market watchers saw it as more important than the Federal Reserve's decision the same afternoon.

A $225 Billion Target

The centerpiece was a projection that Oracle will generate at least $225 billion in revenue in fiscal 2030. Reaching that figure would require the company to keep growing at a rapid clip every year for the rest of the decade, driven largely by demand for its cloud infrastructure from AI customers.

Oracle also gave investors a timeline for its heavy spending. It said capital expenditure should peak in fiscal 2027 and 2028, and it set a free cash flow target of more than $30 billion for fiscal 2029.

Easing the Financing Worry

Oracle has been one of the most aggressive builders of AI data-center capacity, and investors have fretted about how the company would finance that expansion. The company addressed that head on by capping further fundraising at $20 billion, a step that market reports said addressed AI financing worries.

The combination of a large revenue goal, a date for peak spending and a ceiling on new capital raising appeared to reassure investors who had worried about how the build-out would be funded. One market strategist summed up the session by saying Oracle's reassurance moved the market more than the Fed did.

Part of a Wider AI Rally

Oracle's gain came alongside a broad advance in AI infrastructure stocks. Vertiv Holdings (NYSE:VRT) rocketed after orders more than doubled, SK hynix (NASDAQ:SKHY) jumped after a record quarter, and chipmakers including Micron (NASDAQ:MU), Lam Research (NASDAQ:LRCX) and Applied Materials (NASDAQ:AMAT) climbed. The Philadelphia Semiconductor Index rose for a fourth straight session to 11,684.00.

Not everyone is convinced the spending will last. BCA Research's Peter Berezin said he still expects an eventual AI capex bust, though probably not until 2028. The S&P 500 rose 21.38 points to 7,743.98, its third straight gain, while the Fed left rates unchanged in a 10-2 vote.

Big Tech Earnings Complicate the Picture

After the bell, the AI story split. Microsoft (NASDAQ:MSFT) rose in extended trading as its Azure cloud business accelerated, while Alphabet (NASDAQ:GOOGL) slid sharply after missing profit expectations and raising its 2026 capital spending forecast. Both are direct competitors to Oracle in cloud infrastructure.

Thursday brings third-quarter GDP and September PCE data at 8:30 a.m. ET, followed by Amazon's (NASDAQ:AMZN) results after the close. Apple (NASDAQ:AAPL) and Meta (NASDAQ:META) report later this week.