Oracle reported Q4 FY2026 results after the June 10 close: revenue $19.2B (+21% YoY), total cloud revenue $9.9B (+47%), OCI revenue $5.8B (+93%), non-GAAP EPS $2.11 (+24%). The headline: remaining performance obligations (RPO) reached $638B at quarter end - up 363% YoY and +$85B sequentially - with most of the increase from large-scale AI contracts in which customers either prepaid Oracle for GPUs or bought and supplied the GPUs themselves. The largest buyer-side (hyperscaler/neocloud capex) confirmation of the AI cycle to date.