11:07 AM EDT, 09/10/2025 (MT Newswires) -- Oracle (ORCL) is cementing its position as a leader in artificial intelligence infrastructure after reporting a massive jump in remaining performance obligations during its fiscal Q1, Deutsche Bank said in a Wednesday note.

RPO increased 359% year over year, far surpassing expectations. The surge was driven by four multi-billion-dollar contracts with three customers, adding $317 billion in a single quarter. Oracle now expects backlog to exceed $500 billion in the coming months as additional deals are signed.

The technology company's management also reiterated its forecast for fiscal year 2026, projecting revenue growth of 16%, fueled by 40% growth in total cloud and a "remarkable" 77% increase in Oracle Cloud Infrastructure services, Deutsche Bank said.

Oracle's deep technology roots and expertise in parallel computing continue to underpin its positioning as the leading provider of AI infrastructure, according to the note.

Deutsche Bank has a buy rating on Oracle, with a price target of $335.

Shares of the company were up nearly 40% in recent trading.

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