Hyperscalers & cloud · Thesis 04 · settles Dec 14 · 52 days · rung 1/3
Will Oracle's property and equipment purchases hit 128 percent of revenue in the quarter ending November 30, 2026?
How it settles
Divide purchases of property and equipment by revenue that Oracle reports for the quarter ended November 30, 2026 on SEC EDGAR. Yes if the ratio is at or above 128.0 percent, no if below. SEC EDGAR, XBRL company facts of Oracle (Forms 10-Q and 10-K)
The exact question and the full rule
Did the purchases of property and equipment of Oracle for the quarter ended November 30, 2026 come to at or above 128.0% of its revenue?
Divide the purchases of property and equipment by the revenue that Oracle reports for the quarter ended November 30, 2026 in its 10-Q or 10-K filing on SEC EDGAR. The answer is yes if the ratio is at or above 128.0%; no if it is below 128.0%.
If the source is late or silent: If Oracle has not filed by January 18, 2027, or a filing restates a period the rule reads, the test is inconclusive, and the Result says what was read and what was missing.
If no
NVIDIA will say inference is over half of demand
Yes: capital spending stays high, continuing the surge seen in the prior quarter's 147 percent reading.
If yes
NVIDIA will not make that statement
No: spending eases or revenue grows faster, pulling the ratio under 128 percent.
50%
NoYes
No position, no money. The crowd, the Call and the machines appear after you lock your number.
— You
— CallOct 22
— Machines3 models
— Readersshows from 5
The trail · since Oct 22
the Call 68, recorded Oct 22machines 3 runsreaders show from 5
The case · 7 people · 2 minutes
NVIDIA will say inference is over half of demand6 people argue noNVIDIA will not make that statement1 people argue yes
Once models are trained they must run on every use, so rising usage converts directly into recurring compute demand; agentic systems that complete tasks and use tools multiply the number of inference calls per user action.
Training workloads require high-end GPUs and can be run remotely, aligning with CoreWeave's model of renting expensive, cutting-advantage capacity on long-term contracts. Inference, by contrast, is steady-state, latency-sensitive, and cost-conscious…
What would change the Call
The property and equipment purchases or revenue figure Oracle reports for that quarter would move the number.
3 models ran this one. Their numbers and reasons appear after you lock yours.
The thesis
Will NVIDIA state by Nov 30, 2027 that inference is over 50% of its data center compute demand?
As AI shifts from building models to running them in everyday products and agents, inference calls could outgrow training runs. The question is whether NVIDIA says so on the record.