Hewlett Packard Enterprise is offering Oracle a warrant to purchase more than four million HPE shares at essentially no cost, according to a Thursday filing, linking the incentive to Oracle's purchases of HPE networking equipment for artificial intelligence data centers. The companies are expanding a multi-year collaboration covering HPE Juniper PTX and MX routing platforms, QFX and EX switching platforms, networking support, telemetry tools and financing. The equipment already supports parts of Oracle Cloud Infrastructure's data center and edge networks and is being extended to Oracle's global AI supercluster buildout. Oracle shares closed 5.69% higher at $154.04 and rose another 2.47% to $157.85 in premarket trading ahead of its fiscal first-quarter 2027 results, scheduled for September 10. Oracle reported record fiscal 2026 revenue of $67.4 billion, while cloud revenue in its latest quarter rose 47% to $9.9 billion. Capital expenditures reached $55.7 billion in fiscal 2026, compared with $21.2 billion a year earlier, and the company expects roughly $70 billion in net capital spending in fiscal 2027. HPE shares have risen 108% since the start of the year, while the company reported record quarterly revenue of $12.2 billion and networking revenue of $2.9 billion.