Oracle said it renewed or resold all expiring GPU capacity during Q1 FY2027 at prices roughly 20% above prior contracts, even though most of the GPUs were more than four years old. GPU utilization (the share of capacity actively in use) reached 97.9%. The company booked more than $30 billion in new AI cloud contracts, lifting remaining performance obligations to $664 billion—up $26 billion from the previous quarter and $209 billion from a year earlier. Oracle delivered more than 300,000 GPUs to AI cloud customers, three times its Q4 FY2026 output, and added 850 megawatts of AI capacity. Its customers included OpenAI, xAI, Meta, NVIDIA, and AMD. Acute shortages of new NVIDIA GPUs have constrained cloud capacity, allowing Oracle to renew older equipment at a premium as customers seek to avoid losing access. Oracle raised its FY2027 revenue guidance to at least $90 billion, representing 34% year-over-year growth, and increased its non-GAAP earnings-per-share outlook to $8.10.