Oracle forecasts $30B free cash flow for fiscal 2029

Oracle projected more than $30 billion in free cash flow for fiscal 2029 and said it would limit additional fundraising through May 2030 to $20 billion, easing concern about the financing required for its AI infrastructure spending.

The software company also forecast total revenue of more than $225 billion for fiscal 2030, implying average annual growth of 35%. The company reiterated minimum fiscal 2027 revenue guidance of $90 billion at its investor day on October 28.

Oracle targets $30 billion in fiscal 2029 free cash flow

Oracle said free cash flow would reach $30 billion in the fiscal year ending May 2029, compared with an analyst expectation that it could remain negative. The projection followed a forecast for negative $23.7 billion of free cash flow in fiscal 2026 as the company moves through a heavy capital-expenditure cycle.

The cash-flow figure was a forward-looking company projection rather than a reported result. It was part of the same investor-day package in which Oracle presented its longer-term revenue outlook and financing plan.

Oracle limits additional fundraising to $20 billion

Oracle said it would cap new fundraising at $20 billion through May 2030. According to Stock Market Watch, the company plans to split that capacity evenly between debt and equity and expects to begin self-funding growth in fiscal 2029.

The fundraising limit is a company forecast about how it may finance future operations; the reviewed reports do not identify any completed debt or equity transaction. The disclosed figures therefore describe planned financing capacity and expected cash generation, not cash already received.

Fiscal 2030 revenue forecast reaches $225 billion-plus

Oracle projected total revenue of more than $225 billion for fiscal 2030, a forecast that implied average annual growth of 35%. The company also reiterated guidance for minimum fiscal 2027 revenue of $90 billion.

These figures remain forecasts rather than realized sales. The revenue outlook is separate from Oracle’s free-cash-flow projection, and neither should be read as a guarantee that the company has already received the associated cash.

Shares rose after the investor-day outlook

Oracle shares rose as much as 14% on Wednesday, reaching $148.48, after the investor-day announcement. CNBC separately reported a 13% increase following the revenue forecast and financing disclosures.

The reports linked the rally to Oracle’s long-range revenue outlook and clearer financing plan, which were presented as easing concerns about debt and the returns expected from AI-related investment. The reviewed evidence does not establish any additional cause for the stock movement.

Follow-up measures

The next measurable points in Oracle’s roadmap are whether free cash flow approaches the projected $30 billion in the year ending May 2029, whether the company remains within its $20 billion additional-fundraising cap through May 2030, and whether revenue progresses toward the forecast minimum of $90 billion in fiscal 2027 and the projection of more than $225 billion in fiscal 2030.