Larry Ellison’s Oracle just reported $130 billion in future contracts—which doesn’t include even a single transaction from Stargate

Oracle Executive Chairman of the Board and Chief Technology Officer, Larry Ellison wearing a dark brown sweater. (Credit: Photo by Kimberly White/Getty Images)

• “If you run faster and pay by the hour, you cost less.” That's according to Oracle chairman and chief technology officer Larry Ellison, who spoke with analysts on Monday following a market rout. Oracle, which is part of the momentous $500 billion Stargate project, was included because it has a major advantage over its competitors, Ellison said. 

Oracle CEO Safra Catz said demand for the information technology firm’s cloud services is locked in, with customers seeking larger and longer contracts, although she warned of some “lumpiness” ahead. Catz spoke with analysts on Monday following Oracle’s release of its quarterly earnings.