Oracle Backlog Grows Above Google and Microsoft: CEO Defends $95 Billion in Capital Spending and New Debt Raise as Stock Falls

• Oracle reported fourth-quarter results that beat expectations and said its backlog rose 363% to a record $638 billion.

• Capital spending of up to $95 billion is forecast for fiscal 2027, up from $55.7 billion in the last fiscal year.

• ORCL shares fell 11% overnight; Retail sentiment rose to “extremely bullish” territory.

Oracle Corp. renewed concerns among investors about its high AI-related spending, triggering an 11% drop in overnight trading ahead of Thursday. But management vigorously defended the increased investments, arguing they were essential to capitalizing on a rare, rapid surge in cloud demand – a case underscored by robust fourth-quarter results and one that many retail investors appear to be eager to embrace.

ORCL’s buying spree

oracle reported For the 2026 fiscal year ended May 2026, capital expenditures totaled $55.7 billion, exceeding its own forecast of $50 billion. Then it was said: investments in the household sector…