GPUaaS Business Outlook: $1.51 to $8.11 EPS Potential

OTM Success Starts with Master Data — Not Configuration After years of leading OTM implementations, I’ve learned this: Most companies don’t have a configuration problem. They have a master data discipline problem. You can design elegant automation and sophisticated rate models but if your data is inconsistent or poorly governed, OTM will simply automate bad decisions faster. I see it all the time: - Weak location granularity → poor optimization - Inconsistent naming → unusable reporting - Inaccurate equipment or rates → manual overrides The truth? Most post–go-live issues trace back to master data and not system logic. Master data isn’t glamorous. But it’s the foundation of every successful transportation platform. If you want OTM to deliver real value: Define ownership. Establish governance. Clean before you configure. Technology enables strategy. Master data enables technology. How are others approaching master data governance in OTM? Let's connect to show you how Intellinum can help! https://lnkd.in/gKPpNqHV #Intellinum #OraclePartner #OracleCloud #OTM #Oracle

Building a >$100 billion GPUaaS Business – What's it Worth? Mounting skepticism surrounding Oracle's ramping GPU as a Service ('GPUaaS') investment cycle (both in terms of duration and magnitude) have significantly pressured Oracle's share price, down ~45% from 2025 highs and ~20% relative to F2Q26 results in December. Oracle management targeted upwards of ~$130 billion of GPUaaS revenue (relative to an estimated ~$2 billion in FY25), supporting $21 in consolidated non-GAAP earnings by FY30 at the November Analyst Day. Investor skepticism on the achievability of these targets has risen based on: 1) increasing concern on the associated counterparty risk embedded in this opportunity (as OpenAI contributes at least ~$300 billion of the $523 billion backlog balance exiting F2Q26), 2) $248 billion of lease commitments (via the most recent 10Q) expected to commence over the next two years (not yet on the balance sheet), and 3) another raise to near term capex expectations, with FY26 seen at ~$50 billion / ~75% of revenue. Our analysis attempts to unpack the key drivers necessary to achieve these targets, introducing a new GPUaaS operating model, complemented by our existing Growth Buckets framework to decompose the underlying drivers in Oracle's multi year targets.

Over-licensing is the 𝘀𝗶𝗹𝗲𝗻𝘁 𝗯𝘂𝗱𝗴𝗲𝘁 𝗸𝗶𝗹𝗹𝗲𝗿! It doesn’t trigger alerts. It doesn’t break systems. It just drains money… 𝗲𝘃𝗲𝗿𝘆 𝘀𝗶𝗻𝗴𝗹𝗲 𝗺𝗼𝗻𝘁𝗵! Most organizations don’t realize they’re paying for: - Users who no longer exist - Access that’s never used - Licenses bought “just in case” That’s not optimization. That’s expensive guesswork. 𝗙𝘂𝘀𝗶𝗼𝗻𝗦𝗮𝘃𝗲 𝗲𝘅𝗽𝗼𝘀𝗲𝘀 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂’𝗿𝗲 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝘂𝘀𝗶𝗻𝗴 𝘃𝘀 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂’𝗿𝗲 𝗽𝗮𝘆𝗶𝗻𝗴 𝗳𝗼𝗿. If you want to know where your Oracle spend is quietly leaking, 𝗹𝗲𝘁’𝘀 𝘁𝗮𝗹𝗸! #CloudCostOptimization #OracleCloud #LicenseManagement #CFOInsights #EnterpriseRisk #FinOps #AIInEnterprise #CostVisibility

What Does Success Look Like for Oracle? Our Revised Assessment of Oracle's FY26 – FY30 Financial Framework Suggests Little Room for Error. Beyond executing against the estimated >$100 billion GPUaaS opportunity, our assessment of the underlying drivers within Oracle’s FY30 target of $21 in NGAAP EPS target suggest an expected: 1) acceleration in other areas of the business (e.g. SaaS, core OCI), 2) substantial operating leverage, and 3) favorable outcomes in financing its infrastructure build out. A combination of our new GPUaaS operating model, the explicit incorporation of finance lease impacts into our consolidated Oracle financial model (in conjunction with our Global Valuation, Accounting, and Tax team, led by Todd Castagno), alongside sensitivities of our existing 'Growth Buckets' framework informs our view of embedded growth drivers, as well as our concern the current targets leave little cushion for any execution, pricing or financing issues. All together, we see $10.02 FY30 EPS as a more reasonable bar for now relative to Oracle's FY30 ~$21 EPS target – though acknowledge a wide range of outcomes and substantial upside should execution prove out. Specifically, our sum of the parts analysis (leveraging our GPUaaS model and core earnings power build), under more bullish assumptions, supports $18.65 in EPS – still below the $21 target, but also reflecting substantial earnings growth potential. Additionally, we believe that Oracle's AI Database and AI Data Platform targets (FY30 seen ~$20 billion, implying a 50%+ 5Y CAGR) screen aggressive as well, informed by our prior work on Oracle's market positioning (see: Oracle Corporation: What Have We Learned About Oracle's Growth Equation? (23 Sep 2025), and augmented by the latest data points from our CIO survey.

𝗠𝗼𝗺𝗲𝗻𝘁𝘂𝗺 𝗠𝗼𝗻𝗱𝗮𝘆: Leading Telco Turns Oracle Cloud Transformation into Device-Level Execution. One of the largest telecommunications providers in the U.S.—spanning wireless, cable, internet, and media—embarked on a massive Oracle Cloud transformation. Midway through, they partnered with Intellinum, introducing FlexiPro Mobile™ extensions embedded within Oracle SCM and WMS to operationalize real-world logistics and manufacturing execution. 𝗧𝗵𝗲 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲: • CPE Returns Chaos: Returned modems and routers lacked real-time traceability—legacy and manual processes limited ownership validation across Oracle systems  • Manual Kitting & Labeling: Inventory updates, serial handling, and label printing were manual, slow, and error-prone  • Field Technician Bottlenecks: Misallocated devices forced technicians to rely on support to resolve inventory errors before installations  • Bulk Transfer Complexity: High-volume, serial-controlled transfers required intricate validations without sacrificing speed 𝗧𝗵𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻: • Serial-Aware CPE Returns: FlexiPro Mobile™, embedded within Oracle WMS workflows, enables serial scanning to validate ownership, warranty status, and source—blocking duplicates before LPN closure  • Touchless Kitting & Labeling: Mobile-first execution automates serial tracking, inventory updates, and label generation with intelligent defaults  • Technician Self-Service: Field teams scan devices on site to resolve inventory mismatches instantly—no support tickets required  • Speedy Bulk Transfers: Operators process hundreds of serial-controlled items with full validation in under a minute 𝗧𝗵𝗲 𝗢𝘂𝘁𝗰𝗼𝗺𝗲: • Accurate, efficient transaction execution  • Clear device ownership with reduced duplicate records  • Improved inventory accuracy, governance, and compliance across regions  • Faster workflows with automation replacing manual steps  • Higher productivity through a unified Oracle-powered mobile experience 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆: When scale and complexity collide, like in telecom logistics, value is realized only when Oracle strategy meets front-line execution. With Oracle SCM and Intellinum’s FlexiPro™ extensions, this telco operationalized its cloud investment—improving governance, accuracy, and technician productivity across every device and transaction.  #MondayMomentum #OracleSCM #OracleWMS #FlexiPro #SupplyChainOptimization

Momentum Monday Momentum Monday: Leading Telco Turns Oracle Cloud Transformation into Device-Level Execution. One of the largest telecommunications providers in the U.S.—spanning wireless, cable, internet, and media—embarked on a massive Oracle Cloud transformation. Midway through, they partnered with Intellinum, introducing FlexiPro Mobile™ extensions embedded within Oracle SCM  and WMS to operationalize real-world logistics and manufacturing execution. The Challenge: *CPE Returns Chaos: Returned modems and routers lacked real-time traceability—legacy and manual processes limited ownership validation across Oracle systems  *Manual Kitting & Labeling: Inventory updates, serial handling, and label printing were manual, slow, and error-prone  *Field Technician Bottlenecks: Misallocated devices forced technicians to rely on support to resolve inventory errors before installations  *Bulk Transfer Complexity: High-volume, serial-controlled transfers required intricate validations without sacrificing speed The Solution: *Serial-Aware CPE Returns: FlexiPro Mobile™, embedded within Oracle WMS workflows, enables serial scanning to validate ownership, warranty status, and source—blocking duplicates before LPN closure  *Touchless Kitting & Labeling: Mobile-first execution automates serial tracking, inventory updates, and label generation with intelligent defaults  *Technician Self-Service: Field teams scan devices on site to resolve inventory mismatches instantly—no support tickets required  *Speedy Bulk Transfers: Operators process hundreds of serial-controlled items with full validation in under a minute The Outcome: *Accurate, efficient transaction execution  *Clear device ownership with reduced duplicate records  *Improved inventory accuracy, governance, and compliance across regions  *Faster workflows with automation replacing manual steps  *Higher productivity through a unified Oracle-powered mobile experience Takeaway: When scale and complexity collide, like in telecom logistics, value is realized only when Oracle strategy meets front-line execution. With Oracle SCM and Intellinum’s FlexiPro™ extensions, this telco operationalized its cloud investment—improving governance, accuracy, and technician productivity across every device and transaction.    #MondayMomentum #OracleSCM #OracleWMS #FlexiPro #SupplyChainOptimizatio

Oracle’s clear 2026 Funding Plan and swift execution brings Clarity and Reduces Credit Stress Oracle’s stock is down ~50% from its peak, driven by investor concerns over leverage, AI capex, and funding uncertainty The $25bn bond issuance and a clearly articulated 2026 $50bn total funding plan helps a lot: 🔹Jumbo Bond program was well received yesterday (5x subscribed) and credit spreads of its existing bonds tightened (by 25-30bps) post-issuance, reflecting strong institutional interest despite broader investor concerns about leverage and AI capex commitments. 🔹5-year CDS spreads moved lower by 15%, signaling reduced default risk. 🔹The remaining funding of $25bn will come via convertible bonds and an ATM equity program, providing flexibility without sudden dilution. 🔹ATM equity program of $20bn is fully approved and registered with the SEC, giving the company flexibility to raise shares gradually as needed. It will lead to c6% dilution. 🔹With cash balance of $19bn and 2026e FCF burn of $26bn, total funding proceeds will cover for CY26 needs and also add cushion heading into CY27. 🔹Current debt load of $108bn, plus an additional $25bn recent raise would raise FY26E Debt/EBIT ratio to ~4.5x, above its ~4x IG threshold levels, but its EBIT growth in 26 will drive this below ~4x levels. So, Oracle should maintain IG rating. While leverage remains, funding clarity reduces uncertainty, stabilizes credit perception, and may provide a floor to the share price, which has already priced in a lot of bad news. *Not an investment advice. #AI #AICapex #Hyperscaler #Funding #Capital #Bond #Equity Oracle Cloud

There are two fundamentally different Oracle support models. Most organizations think they’re choosing between vendors. They’re not. They’re choosing between incentive structures. Model 1: Ticket-Centric Support Success is measured by: • Response time • Closure time • SLA compliance • Tickets handled per month This model is reactive by design. Something breaks. A ticket opens. An engineer responds. The queue clears. It optimizes for activity. Flat ticket volume is considered stability. High ticket throughput is considered productivity. The system can slowly degrade, but as long as SLAs are green, the contract is technically successful. Model 2: Outcome-Aligned Support Success is measured by: • Fewer recurring incidents over time • Performance baselines that improve or stabilize • Reduced operational risk • Increased predictability during critical cycles This model is preventive by design. The goal is not just to clear tickets faster. The goal is to generate fewer tickets next quarter than this one. Time is spent on: • Baseline analysis • Patch discipline • Capacity modeling • DR validation • Licensing alignment • Automation The system becomes quieter over time. Noise declines. Surprises decrease. Executive trust increases. Both models can claim strong SLAs. Only one focuses on the future, and changes the trajectory of the environment. When evaluating a provider, ask yourself: “What behavior does this contract reward?”

𝟱 𝗢𝗥𝗠𝗕 𝗧𝗲𝘀𝘁𝗶𝗻𝗴 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝗧𝗵𝗮𝘁 𝗥𝗲𝗳𝘂𝘀𝗲 𝘁𝗼 𝗚𝗼 𝗔𝘄𝗮𝘆 Across healthcare, financial services, and insurance teams running Oracle 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 & 𝗕𝗶𝗹𝗹𝗶𝗻𝗴 (𝗢𝗥𝗠𝗕), the same five testing challenges keep surfacing. Not edge cases. Not exceptions. Just everyday ORMB realities. If more than two of these sound familiar — you’re not alone. It’s time to move from reactive fixes to zero surprises in every release. 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝘄𝗶𝘁𝗵 𝘂𝘀 to explore how 𝗥𝗜𝗔 can strengthen your ORMB testing strategy: 🌐 https://lnkd.in/gj-RpRAR #ORMBZeroSurprises #AccelerateYourRevenueJourney #ORMB #Oracle #HealthcareBilling #FinancialServices #TestAutomation #RegressionTesting