Recently, $Oracle(ORCL.US)has been quite interesting, with market sentiment clearly swinging. On one hand, AI orders continue to increase, with enterprise customer demand being quite strong. According to media reports, Oracle’s backlog of AI-related orders and contract scale are expanding, indicating high visibility for future revenue. On the other hand, the market is starting to worry again about its heavy spending on AI infrastructure. It’s said that the scale of data center investment over the next few years is huge, and it will need to raise tens of billions of dollars.

My own view is: this is typical valuation volatility for a ‘growth infrastructure stock’. Short-term cash flow pressure is high, but long-term, if AI computing demand truly persists, the OCI cloud business will gradually release profits. Moreover, the financial report is due on March 10th, and at this current price level, it feels like a lot of capital is waiting for the earnings to provide direction. Either the story gets disproven, or a new round of the AI narrative begins. I’m currently holding a small position, waiting for the earnings report to see the growth in cloud and AI orders. If OCI continues its high-speed growth, then this stock’s story isn’t over yet.