Oracle shares rose by as much as 5 per cent on Thursday after the company projected stronger growth in its core businesses and confirmed a cloud-computing partnership with social media giant Meta.

The database software maker expects revenue from its AI-powered database and data platform to surge to $20 billion in fiscal 2030, up from $2.4 billion in 2025 and $3 billion in 2026.

“You see the change in these numbers that it’s a little bit easier for us to find supply, not this year or next year, but in subsequent years,” Clay Magouyrk, one of Oracle’s two new CEOs, told analysts Thursday at the company’s AI World conference in Las Vegas.

“So as we’re able to find that supply, customers contract for it, we see immense demand, and then we go about delivering that to customers.”

Magouyrk revealed that within just 30 days of the current quarter, Oracle secured $65 billion in new cloud infrastructure commitments.

“It was across seven different contracts from four different customers,” Magouyrk said.

“None of those customers are OpenAI. I know some people are questioning sometimes, ’Hey, is it just OpenAI? The reality is, we think OpenAI is a great customer, but we have many customers.”

He noted that Facebook’s parent company, Meta, is one of the four customers involved. Bloomberg had earlier reported in September that the two firms were in talks over a $20 billion agreement.

The partnership comes amid a wave of heavy spending by tech giants to build infrastructure supporting their AI ambitions.

In July, Meta announced plans to invest between $66 billion and $72 billion in capital expenditures this year.