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Oracle Corp signed a massive cloud services deal expected to generate over $30 billion in annual revenue starting FY28, sending its shares to an all-time high.
What’s going on: long known for its database software, Oracle has been investing heavily in cloud computing, and it’s paying off. The company forecasted “dramatically higher” revenue growth in the coming year as demand for AI-related services surges.
Revenue from Oracle’s database running on other clouds is growing over 100%, while the stock has jumped 33% this year which is its strongest performance in decades.
Where India stands: India’s cloud services market is booming, driven by startups, big enterprises, and government digitisation. It’s valued at around $7 billion in 2024 and projected to grow 20–25% annually over the next few years.
Big players like AWS, Microsoft Azure, Google Cloud, and Oracle are expanding data centres to meet rising demand for AI, analytics, and SaaS applications. Sectors like banking, retail, healthcare, and manufacturing are among the biggest adopters.
With over 1 billion internet users and a huge push for “Digital India,” cloud services have become the backbone for everything from small business apps to massive AI workloads.
