Oracle CFO Hilary Maxson Says Cloud Demand Strong as Company Targets $225 Billion Revenue

Oracle Chief Financial Officer Hilary Maxson said demand for cloud infrastructure remains strong, pointing to the company's forecast of $225 billion-plus in revenue for fiscal 2030. Maxson made the comments in an interview with Investors.

Maxson Points to Long-Term Contracts

Maxson said Oracle's position as a market leader lets it see customers contracting capacity years ahead. "So you get some early signs if demand starts to turn in a different direction. We don't see that. This market still remains very hot from a demand standpoint," she told IBD.

Oracle laid out the fiscal 2030 revenue target at its AI World conference in Las Vegas on October 28, 2026, implying an annual average growth rate of 35%. The company said capital spending will peak in fiscal 2027 and fiscal 2028, allowing it to become free-cash-flow positive in the second half of fiscal 2028, which begins next June. Oracle also said it would raise no more than $20 billion in additional capital through 2030, then completed that fundraising through a $10 billion equity sale and $10 billion bond sale on November 2, 2026.

Maxson said the funding was worth completing. "We thought it was well worth it — because the funding was quite a bit less than what might have been anticipated — to just get that behind us and to get the focus on where it needs to be," she said.

A major focus is delivering seven gigawatts of new data center capacity over the next two years, to reach 10 total gigawatts. Maxson said five large-scale data center complexes are under construction: two in Texas and one each in New Mexico, Wisconsin and Michigan.

Oracle's Backlog and Cloud Revenue

Oracle, founded in 1977 and headquartered in Austin, Texas, sells cloud infrastructure, AI Database, Fusion Applications, Oracle Health and NetSuite cloud ERP, according to akta.pro company records. The same records list fiscal 2026 revenue of about $67.4 billion, up 17% year-over-year, and cloud infrastructure revenue of $5.8 billion in the fourth quarter of fiscal 2026, up 93% year-over-year. Remaining performance obligations stood at $638 billion, a 363% year-over-year increase.

Earlier Oracle Expansion Moves

On November 10, 2026, Oracle cancelled a five-year agreement to lease advanced AI computing capacity to Tencent, worth $7 billion, after U.S. government concerns, Network World reported. The same day, Oracle and Google Cloud launched Oracle AI Database@Google Cloud in Queretaro, Mexico, enabling local AI and analytics services, Mexico Business News reported. Oracle also held a groundbreaking ceremony for its future global headquarters on Nashville's East Bank, a 78-acre campus, PR Newswire reported.

Next Steps for Oracle

Oracle's fiscal 2028 begins next June, the period in which the company expects to become free-cash-flow positive in the second half. Oracle has said it expects to raise no more than $20 billion in additional capital through 2030, a figure it has already reached.