Does Mythics' Multi‑Cloud Move Clarify Oracle's (ORCL) Enterprise AI Strategy Or Complicate It?

• In early December 2025, Mythics announced expanded support for Oracle’s multi-cloud strategy, enabling Oracle AI Database services to run across Google Cloud, Microsoft Azure, Amazon Web Services, and Oracle Cloud Infrastructure to help enterprises modernize infrastructure and integrate AI across environments.
• At the same time, large AI infrastructure collaborations and very large, multi‑year cloud contracts with partners such as OpenAI have intensified analyst focus on Oracle’s growing AI backlog, rising debt load, and its push to become a leading provider of enterprise AI computing power.
• We’ll now examine how Mythics’ expanded multi‑cloud support for Oracle AI Database reshapes Oracle’s investment narrative around enterprise AI adoption.

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Oracle Investment Narrative Recap

To own Oracle today, you need to believe its huge AI and cloud backlog can be converted into profitable revenue without overextending the balance sheet. The key near term catalyst remains evidence of sustainable, diversified AI demand in upcoming earnings, while the biggest risk is heavy spending and leverage tied to a small number of hyperscale AI customers. Mythics’ expanded multi cloud support helps Oracle’s AI Database show up where customers already run workloads, but does not materially change that core risk reward trade off.

The most relevant recent announcement is Oracle’s nearly US$500 billion in contracted AI related deals, including the US$300 billion OpenAI collaboration and other hyperscale agreements. Against that backdrop, Mythics’ move to run Oracle AI Database across AWS, Azure, Google Cloud, and OCI speaks directly to the main catalyst: turning that backlog into live, multi cloud enterprise AI workloads at scale.

Read the full narrative on Oracle (it's free!)

Oracle's narrative projects $99.5 billion revenue and $25.3 billion earnings by 2028. This requires 20.1% yearly revenue growth and about a $12.9 billion earnings increase from $12.4 billion today.

Uncover how Oracle's forecasts yield a $342.28 fair value, a 57% upside to its current price.

Exploring Other Perspectives

Yet while enthusiasm is high, investors should also be aware of how concentrated AI demand and heavy capex could impact Oracle if growth expectations shift...

Simply Wall St Community members have 26 distinct fair value estimates for Oracle, ranging from US$170.68 to US$389.81, underscoring how far apart views can be. Set against this, the reliance on massive AI infrastructure demand from a few headline customers raises important questions about how robust those long term expectations really are.

Explore 26 other fair value estimates on Oracle - why the stock might be worth as much as 79% more than the current price!

Build Your Own Oracle Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Oracle research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
• Our free Oracle research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Oracle's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.