Hyperscalers & cloud · Thesis 29 · settles Dec 14 · 52 days · rung 1/3
Will Oracle's capital equipment spending hit 120 percent or more of its revenue for the quarter ending November 2026?
How it settles
Divide purchases of property and equipment by revenue from Oracle's 10-Q or 10-K for the quarter ended November 30, 2026, on SEC EDGAR. Yes if the ratio is at or above 120.0 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 120.0% 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 120.0%; no if it is below 120.0%.
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
Cloud revenue growth pays for the capex
Yes: Oracle keeps pouring cash into data centers and chips, with spending staying at or above the last quarter's elevated 147 percent pace.
If yes
The buildout outruns the cash it throws off
No: Oracle's spending eases back below 120 percent of revenue as the buildout pace cools or revenue catches up.
50%
NoYes
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The trail · since Oct 22
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The case · 7 people · 2 minutes
Cloud revenue growth pays for the capex6 people argue noThe buildout outruns the cash it throws off1 people argue yes
Alphabet's management and Berkshire leadership believe that the hundreds of billions in annual capital expenditures on AI infrastructure will eventually generate returns that validate the investment thesis. The company is shelving share repurchases…
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The thesis
Will Alphabet, Microsoft and Amazon each post positive free cash flow for calendar 2027?
Cloud and AI spending is surging, but so is capex. This tracks whether all three hyperscalers still generate more cash than they spend over the trailing year through 2027.