Salesforce vs. Oracle: There is only one winner in the Cloud AI push

Salesforce (NYSE:CRM | CRM price prediction) And oracle (NYSE:ORCL) has just delivered returns that frame the cloud pivot from opposite sides. Oracle invests capital in AI infrastructure become a hyperscaler. Salesforce integrates AI agents into the workflow software companies already use. Both bet big. Only one can make it with debt.

IaaS is powered by Oracle. Agentforce runs Salesforce.

Oracle’s third-quarter fiscal 2026 report, released in March, was the loudest cloud quarter in the company’s history. Cloud infrastructure revenue reached $4.88 billion, up 84% year over year, with management saying demand for AI training was outpacing supply. The striking figure is Remaining performance obligations of $553 billion325% more than last year. This shortfall is real, but it’s on top of long-term debt of $124.7 billion and trailing free cash flow of negative $24.7 billion.

Salesforce reported its fourth quarter of fiscal 2026 in February, and the spy story dominated…