Oracle stock rebounded on July 15, 2026, gaining 3.58% to close at $132.54 after a three-day selloff, as retail traders and some analysts bet the company’s record AI infrastructure backlog will eventually justify its massive capital spending.
The rebound came as the market digested Oracle’s fiscal 2026 earnings, which revealed the company spent $55.7 billion on AI data center infrastructure—exceeding its own $50 billion guidance—while securing a $638 billion backlog of AI contracts.
The backlog surged 363% year-over-year, equivalent to roughly eight years of Oracle’s current revenue run rate. In the most recent quarter alone, the company signed $67 billion in new AI infrastructure deals, according to earnings reports from June 2026.
Despite the scale of the backlog, investors have remained skeptical about execution risk and debt accumulation. Oracle has borrowed nearly $130 billion to fund its AI infrastructure push and plans to raise another $40 billion in fiscal 2027 for continued data center buildout, according to Reuters and Financial Times reporting from June 2026.
The stock had fallen sharply in the preceding weeks. On July 13, 2026, Oracle shares dropped 6.5%, part of a broader decline that left the stock down roughly 61% from its September 2025 peak, according to Trefis and 24/7 Wall St. analysis. The broader software sector faced headwinds after IBM’s earnings warning triggered fears about cloud infrastructure demand.
Analysts remain divided on the outlook. Some, including Wedbush’s Dan Ives, maintain bullish positions, arguing Oracle could reach $250 per share in 2026 if it executes on data-center expansion and begins meaningfully monetizing its AI backlog. Others flag the concentration risk: a significant portion of the backlog depends on a handful of large customers, including OpenAI, raising questions about customer diversification and long-term sustainability of the capital-intensive model.
Sources
- Yahoo Finance — Oracle stock price and rebound data for July 15, 2026
- The Next Web — Oracle’s $55.7 billion fiscal 2026 capex and $40 billion fundraising plans
- Reuters — Oracle’s capital spending forecast and debt issuance strategy
- Financial Times — Oracle’s $40 billion debt and equity raising plans and data center capacity
- SaasRise — Oracle’s $638 billion AI backlog announcement
- Cloud Wars — Backlog growth of 363% and $67 billion in Q4 AI contracts
- Trefis — Oracle’s 6.5% drop on July 13, 2026
- 24/7 Wall St. — Oracle stock down 61% from peak; analyst outlook
- Barchart — Dan Ives analyst commentary on $250 price target
