“I expect the cloud applications growth rate will accelerate this coming year.”

In context

“than any other company in the S&P 500. Now a few years ago, I told you that we had reached a tipping point in our cloud transition and expected revenue growth to accelerate. And it has. In Q4, we hit double-digit revenue growth and it's only going up from here. Even as the company gets bigger. Our remaining performance obligations now stand at $138 billion, up $8 billion from last quarter and up 41% from last year. And yet, the best is still to come. Our applications business was the area we moved to the cloud more than a decade ago and we are now the leader in enterprise back office with SaaS solutions for ERP, Financials, EPM, HCM, supply chain, and manufacturing. With the addition of over 100 AI agents along with strong bookings and higher renewal rates for our strategic SaaS products, I expect the cloud applications growth rate will accelerate this coming year. Our infrastructure business was the next area to move to the cloud. We made engineering decisions that were much different from the other hyperscalers and that were better suited to the needs of enterprise customers resulting in lower costs to them and giving them deployment flexibility. OCI has seen exceptional demand for infrastructure services and those contracted non-cancelable bookings in RPO give us confidence that OCI revenue will grow over 70% this current year. Included in that is the Oracle Autonomous Database and the AI data platform. Enterprises know that their AI needs demand the most capable database to manage a company's full dataset further with our AI and autonomous features, our customers can bring all their data together, make it available for LLMs, and yet have the bes”