Systems Software

Oracle

Today’s Key News Recap

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0519 | Dolphin Research Focus: 🐬 Macro/Industry 1) Trump announced on social media that, at the request of leaders of Qatar, Saudi Arabia and the UAE, the planned strike on Iran set for the 19th has been postponed. He said the US and Iran are in 'serious talks', while the three Gulf states fear an escalation could hit their own energy infrastructure. He also stressed that US forces remain on alert, warning that if talks collapse, a full-scale offensive would follow.This move keeps a window open for diplomacy while applying military pressure on Tehran. In the near term, it eases risks around Middle East oil prices and shipping, supporting global energy markets and risk appetite. Over the longer run, US-Iran rifts are unlikely to be resolved...

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JD 618 Kicks Off Low-Price Deals; Tencent Speeds Up AI Monetization | Daily News Recap

Appraisal value

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Per Dolphin Research's prior note on Oracle, our core takeaway is that Oracle is essentially a scaled-up CoreWeave. The bull case hinges on explosive AI compute demand that could lift its compute-rental revenue by 10x or more.The key risk is the mismatch between uncertain AI demand and fixed upfront capex and leverage, which could lead to sizable credit losses if the AI cycle unwinds. Overall, visibility is limited...

SAP AG-Sponsored

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ORCL: Big Bet on AI Compute — Are the Odds Good Enough?

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0427 | Dolphin Research Focus: 🐬 Macro/Industry1) Last week, DeepSeek surprise-launched its flagship foundation model DeepSeek-V4 and fully open-sourced it, a key market catalyst. With AI advances as a tailwind, semis extended gains today: the Hong Kong Semiconductor Index jumped 5%+, led by SMIC and Hua Hong Semiconductor.The new model is tuned for domestic compute and pursues a non-CUDA stack, expanding edge-AI use cases and sustaining demand for local chips. Flows continue to pile into themes of self-reliant compute and domestic substitution...

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DeepSeek-V4 open-sourced, igniting the AI compute supply chain; Tencent's QClaw rolls out a major update | Daily News Recap

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0414 | Dolphin Research Focus: 🐬 Macro/Industry 1) At 10:00 a.m. ET on Apr 13, the US military imposed a naval blockade on all Iranian ports. On the same day, Trump said 'appropriate people' from Iran called the US to signal a strong willingness to reach a deal, but core differences remain over Iran's nuclear program (Xinhuanet).Tehran has not confirmed this, and the two sides may resume talks in Pakistan on Apr 16. In the near term, oil is likely to stay choppy at elevated levels, with volatility increasing across energy, shipping and chemicals.2) According to the General Administration of Customs. In Q1, China's goods trade imports and exports reached RMB 11.84tn...

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CATL HK SDR 30to1

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SAIC-GM-Wuling teams up with CATL; ORCL inks 2.8GW fuel-cell deal | Daily News Recap

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Apr 2 | Dolphin Research focus: Stock 1, $Oracle(ORCL.US). Reports suggest Related Digital is advancing approx $16 bn in project financing for Oracle's AI data center build, mainly for hyperscale compute campuses such as 'Stargate'.Oracle's cloud &amp; AI capex plan through 2026 exceeds $50 bn. FCF has turned negative, leaving it reliant on external funding and compute contracts with OpenAI, etc...

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KraneShares 2x Long BABA Daily ETF

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Direxion Daily AMZN Bull 2X Shares

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ORCL mass layoffs; BABA rolls out next-gen Qwen LLM | Daily News Recap

Conference Minutes

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For detailed commentary, see 'NVIDIA GTC: AI’s Spring Gala — High Hopes or Letdown?'.Below is the full transcript of $NVIDIA(NVDA.US) GTC.Jensen Huang, NVIDIA’s founder and CEO, delivered the keynote at GTC 2026.Key topics included the 20th anniversary of the CUDA platform, the inference inflection and a surge in compute demand, the Vera Rubin system architecture, Groq integration, the OpenClaw agent revolution, and physical AI and robotics. CUDA at 20 and the platform flywheel: CUDA has been around for 20 years...

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HYPERSCALE DATA INC 13.00%CUM RED PER PREF STK SER D USD25

NVDA (GTC Trans): LPU re-architects AI inference; AI factories aim for space---

Below is Dolphin Research's FY26Q3 earnings call Trans for $Oracle(ORCL.US). For analysis of the print, see 'All-in to survive — did ORCL's AI bet win?'.I. Core info recap1) Financing plan: In Feb, the company announced a plan to raise up to $50bn via debt and equity, and committed not to issue additional bonds in calendar 2026.Within days of the announcement, it raised $30bn through a mix of IG bonds and mandatory convertible preferreds (MCPS), with the book heavily oversubscribed. The ATM equity component has not yet launched...

ORCL (Trans): AI biz. GPM at 32% this quarter

Financial Analysis

As the most debated of the Big Four cloud players, $Oracle(ORCL.US) reported 3QFY26 results (through end-Feb) after hours. Overall, the print was mixed.On the plus side, Oracle Cloud Infrastructure (OCI) — anchored by databases and compute leasing — maintained strong growth and even accelerated. On the flip side, gross margin pressure was worse than expected, while capex and borrowings climbed faster than anticipated.Net-net, the quarter screens neutral with positives offset by negatives. The real after-hours catalyst was management raising its FY27 full-year guidance...

Bet-the-company for survival: Did ORCL's AI bet pay off?---

ORCX

Oracle 3QF26 First Take: Mixed print. OCI-driven acceleration pushed total revenue growth past the 20% mark.The trade-off was faster-than-expected increases in capex and leverage. Cloud &amp; software GPM fell 800bps YoY, with the decline accelerating and worse than market expectations.On cost control, Adj. profit still slightly beat the Street. Net-net, the quarter was broadly neutral.The key highlight was raising FY27 revenue guidance from 85bn to 90bn, while keeping FY26 unchanged.This implies FY27 YoY revenue growth of Approx. 34%, and near-term Q4 guide is largely in-line. In detail: Key points below. 1) Headline revenue appears to slightly beat, but FX tailwinds did most of the lifting.Ex-FX, total revenue grew 18%, matching the top end of prior company guidance and not a true beat. 2) OCI grew 81% YoY in constant currency, a clear acceleration vs. 66% in Q2.That said, it was fully in line with sell-side expectations, so not an upside surprise. (A few top brokers were lower pre-print.) 3) Software &amp; cloud GPM fell 800bps YoY, widening from 590bps in Q2.Dragged by this, company-level GPM came in 250bps below the Street.This implies OCI AI margins in the ramp phase are weaker than expected, a negative signal. 4) Capex reached 18.6bn, up sharply from 12.0bn in Q2 and above market expectations.The company also disclosed new financing of 2.5bn in debt and 0.5bn in preferreds.Per guidance, FY26 Q4 capex should ease to around 11.0bn. 5) RPO rose QoQ by Approx. 29bn.Since the mega deal announced in Q1, new additions have slowed over the past two quarters, a bit of a lull.There has been no recent news of fresh large deals. 6) Q4 guidance upper bounds are near or slightly above current sell-side estimates, so overall in-line.The main surprise is the FY27 revenue uplift, implying execution vs. the previously disclosed long-term plan to FY30 may be ahead of schedule. $Oracle(ORCL.US) $Defiance Daily Target 2X Long ORCL ETF(ORCX.US)

Defiance Daily Target 2X Long ORCL ETF

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0310 | Dolphin Research Focus: 🐬 Macro/Industry1) On Mar 9 (local time), Trump said US military action against Iran would end 'very soon' but not this week. He also indicated the US would ease some oil-related sanctions to cool prices, while warning of tougher strikes if Iran blocks the strait.The remarks briefly soothed energy and financial markets, capping near-term upside in crude. They tempered expectations for a sharp oil spike in the short run.However, the conflict continues and Tehran has issued a hard-line response. Geopolitical risk has not cleared...

Taiwan Semiconductor

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NIO Inc. USD OV

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GraniteShares 2x Long NVDA Daily ETF

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TSM Feb revenue down MoM; Alibaba Qwen management reshuffle finalized | Daily News Recap

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Oracle Options Surge on May 18 US Eastern Time, Call Options Account for 71%, $200 Strike Contract Sees High Volume

Bloom Energy Stock Surges 217% YTD on Oracle Partnership and Strong Q1 Earnings

May Hill Capital Increases Oracle Stake by 96.3% to 5,968 Shares

Wedbush Raises Oracle Price Target to $275, Citing AI Momentum and Record Backlog

Cornerstone Wealth Management Increases Oracle Stake by 28.8% to 15,537 Shares

Oracle Commodities Director John Lee Buys More Stocks

Virginia Retirement System and others reduce holdings in Oracle

Wedge Bush raises Oracle's target price to $275

Red Rover Health Joins Oracle's Enhanced Partner Program

Oracle Java to Boost Samsung Global Semiconductor Development

Oppenheimer Raises Oracle's Target Price to $235

Ishan Technologies Chooses Oracle Communications for Digital Transformation

Oracle Partners with AWS to Launch Oracle AI Database@AWS

Oracle Lays Off 20,000 to 30,000 Employees

Maxi Investments CY Ltd Significantly Increased Holdings in Oracle in Q4

FSB Premier Reduces Oracle Holdings

Oracle Named a Leader in the Gartner®Magic Quadrant™ for Warehouse Management Systems for the 11th Consecutive Year

Arete Analyst Upgrades Oracle to Buy

OPTIMI HEALTH CORP

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FLAG SHIP ACQUISITION CORPORATION COM USD0.001 (SUB/RIGHT 31/03/2026)

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EMMIS ACQUISITION CORP. ORD USD0.0001 (S/R 12/09/2030)

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

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Oracle Corporation (ORCL.US) Fiscal Year 2026 Third Quarter Earnings Conference Call

Oracle Corporation (ORCL.US) Fiscal Year 2026 Second Quarter Earnings Conference Call

Oracle Corporation (ORCL.US) Fiscal Year 2026 First Quarter Earnings Conference Call

Oracle Corporation (ORCL.US) Fiscal Year 2025 Fourth Quarter Earnings Conference Call

Oracle Corporation (ORCL.US) Q3 Fiscal Year 2025 Earnings Conference Call

Oracle Corporation (ORCL.US) Fiscal Year 2025 Second Quarter Earnings Conference Call

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Artificial intelligence (AI) is significantly impacting the cash flows of major companies, with Alphabet, Microsoft, Meta, Amazon, and Oracle collectively burning $563 billion in free cash flow over five quarters. Only Apple remains cash flow positive. The total liabilities from off-balance sheet leases for these companies have surged to $823 billion, indicating a substantial increase in financial strain due to AI investments.

- The article discusses how artificial intelligence (AI) is significantly damaging the cash flows of major companies, with $563 billion burned in free cash flow by key players like Alphabet, Microsoft, and Amazon over five quarters.  
- It highlights the alarming off-balance sheet liabilities that have surged to $823 billion due to new accounting practices, overshadowing positive cash generation trends from prior years.  
- Companies are responding to these financial challenges by laying off thousands of employees, though these measures are deemed temporary and insufficient to address the ongoing cash burn crisis.

Oracle(ORCL.US)

AI Is Devouring All The Cash

How TikTok AI Videos Are Driving Oracle’s Biggest Cloud Expansion

Oracle Corporation $ORCL Stock Holdings Increased by Forefront Wealth Partners LLC

ORCL vs. PLTR: Which AI Stock Is the Better Buy in May, According to Analysts

Oracle Corp. Stock Underperforms Tuesday When Compared To Competitors

Nvidia Starts Vera CPU Shipments As Oracle Plans Massive 2026 Rollout

Argano Strengthens Oracle Solutions and Construction & Infrastructure Offerings with Acquisition of Gaea Global Technologies

Great News: Oracle Stock Could Be One of the Most Underrated AI Infrastructure Stocks

JD 618 Kicks Off Low-Price Deals; Tencent Speeds Up AI Monetization | Daily News Recap

Vera Arrives: NVIDIA’s First CPU Built for Agents Lands at Top AI Labs