Oracle shares soared to a record high, as the database giant announced a $30bn cloud computing contract worth nearly triple the annual revenue it generates from its fastest-growing division. The tech group, which is valued at about $620bn, said in a regulatory filing on Monday that it had signed a deal that would start to bring in revenue in 2028.

Oracle Corp. today disclosed that it has won a cloud contract worth more than $30 billion annually. Shares of the company jumped almost 9% on the news at one point. It ended the trading session up 4%.

The filing does not identify the mystery customer. However, on Oracle’s Q4 2025 earnings call founder Larry Ellison mentioned a new customer which “said we'll take all the capacity you have wherever it is. It could be in Europe, could be in Asia, we'll just take everything."