“I also expect our Gen 2 OCI business will have another excellent year of revenue growth as existing centers fill up and new centers come online.”

In context

“ult of our customers burning through their commitments at a heightened rate. I expect that you'll see this number run up as customers reload and new customers sign up. Approximately 49% of total RPO is expected to be recognized as revenue over the next 12 months. CapEx was $1.9 billion in Q4 and $8.7 billion for fiscal year 2023, as we continue to build capacity for existing bookings and our customers' growing needs. Our investment strategy for adding capacity remains to build many, many identical cloud regions. Our starting point is smaller, which allows us to go where competitors cannot. And this continues to be an advantage for us. Given the demand we have and see in our pipeline, I've increased our CapEx projection and I now expect the fiscal 2024 will be similar to this year's CapEx. I also expect our Gen 2 OCI business will have another excellent year of revenue growth as existing centers fill up and new centers come online. As always, we remain careful to pace our investments appropriately and in line with booking trends, which is why our gross margins are up in our cloud. We now have 42 public cloud regions around the world with another 7 being built. 12 of these public regions interconnect with Microsoft Azure, giving customers true multi-cloud capabilities. We have many, many clouded customer implementations, 10 dedicated regions, and 9 more planned. And lastly, we have 9 national security regions live with immense demand for more. As we've said before, we're committed to returning value to our shareholders through technical innovations, strategic acquisitions, stock repurchases, prudent use of debt, and a dividend. This year, this fiscal year, we repurchased 17 million shares for a total of $1.3 billion.”