Oracle issued a force majeure notice to Stack Infrastructure, a Blue Owl Capital unit developing the $165 billion Project Jupiter data centre campus in New Mexico, seeking to defer obligations under that agreement [Brief - 2026-09-26]. This follows Oracle's formal designation on 13 July 2026 as a critical third-party technology provider to UK financial services, placing the company under statutory oversight by the Bank of England, the Prudential Regulation Authority, and the Financial Conduct Authority [Brief - 2026-09-11]. These regulatory and contractual developments have been the primary drivers of recent coverage of the company.
For the trailing twelve months ending 31 August 2026, Oracle recorded revenue of $71.78 billion, representing year-over-year growth of 29.6%. Net income over the same period was $18.82 billion, with a net margin of 26.2% and an operating margin of 32.1%. EPS grew 54.5% year-over-year. The company held $36.37 billion in cash against total debt of $7.20 billion. The reported P/E stood at 21.49 and market capitalisation at approximately $414.6 billion [SEC 10-Q - ORCL - 2026-08-31].
Insider activity in September 2026 comprised 37 transactions with a net direction of selling and a net value of approximately negative $5.34 million [SEC Form 4 - ORCL - 2026-09]. On the institutional side, several notable 13F position changes were recorded. Citadel added approximately 27% to its position, AQR Capital added approximately 56%, and Soros Fund Management added approximately 30%. Millennium added approximately 9.1% to its holdings. Bridgewater reduced its position by approximately 10% [SEC 13F - Citadel - Q2 2026; SEC 13F - AQR Capital - Q2 2026; SEC 13F - Soros Fund Mgmt - Q2 2026; SEC 13F - Millennium - Q2 2026; SEC 13F - Bridgewater - Q2 2026].
The broader macro environment as of the report date shows the 10-year US Treasury yield at 5.18% and the 2-year at 4.87%, producing a normal yield curve configuration [FRED DGS10; FRED DGS2]. Separately, Middle East supply disruptions pushed Brent crude to $107.86 per barrel and WTI to $102.28 per barrel during the week of 7–11 September 2026, elevating market expectations for further Federal Reserve rate action [Brief - 2026-09-11]. Elevated short and long-end rates represent a relevant cost-of-capital backdrop for capital-intensive infrastructure commitments such as Project Jupiter.