Oracle Earnings Could Reveal a Massive $100 Billion Spending Surge. Here Is Why You Should Still Buy ORCL Stock.

BNP Paribas analyst Stefan Slowinski believes that Oracle (ORCL) will increase its capital spending to a range of $80 billion to $100 billion in the upcoming quarterly report scheduled for today, June 10, after the market close. Just a couple of years ago, this figure was $6.9 billion. This significantly increased forecast is primarily due to the firm working on building the world’s largest AI infrastructure — called Project Stargate — alongside OpenAI and SoftBank (SFTBY). Oracle is helping develop campuses for this project across the U.S. and beyond, fully supported in its endeavors by President Donald Trump and the federal government.

Investors previously had concerns about how Oracle would pay for the massive spending. But with OpenAI raising a whopping $122 billion, Oracle being prepaid by its customers, and Abilene (Stargate’s biggest data center) expected to be completed by the first quarter of 2027, these concerns have somewhat eased. ORCL stock has also fared relatively well in the last three months, although it's nowhere near its September 2025 highs.