Oracle 在 Investor Day 上给出目标:FY29 自由现金流至少 300 亿美元,自由现金流预计 FY28 下半年转正。此前 FY26 因给 OpenAI 等建 AI 数据中心消耗 237 亿美元自由现金流,今年计划 900 亿至 950 亿美元 capex。公司还承诺 FY30 前追加融资不超 200 亿美元,股价一度上涨 9.6%。
Oracle 在 Investor Day 给出现金流转正的具体时间线和资本上限,比此前的模糊表态更可核对。
Oracle now targets at least $30B in free cash flow for fiscal 2029, when investors expected negative cash.
Oracle burned $23.7B of free cash flow in fiscal 2026 building AI data centers for OpenAI and others, and plans $90B to $95B of capex this year.
In September, CFO Hilary Maxson refused to say when that drain would end; At Investor Day today she put the turn in the second half of fiscal 2028.
The plan depends on capital spending peaking in fiscal 2027 and 2028, then stepping down as new capacity starts earning revenue.
Oracle also capped further capital raising through fiscal 2030 at $20B, split evenly between equity and gross debt, beyond a $20B share sale it already completed.
Customer prepayments, customer-supplied hardware and vendor financing are meant to cover much of the remaining upfront cost.
The shares jumped as much as 9.6% after falling 33% this year through Tuesday.
来源:Rohan Paul · x.com