# Oracle's $664 Billion Backlog Hides Real Growth

> Oracle's $664 billion backlog could drive growth even without OpenAI.
- Title: Oracle's $664 Billion Backlog Hides Real Growth | Shortify
- Summary: Oracle's $664 billion backlog could drive growth even without OpenAI. Oracle's $664 billion backlog may fuel growth despite debt and OpenAI concerns.
- Keywords: oracle, backlog, openai, ai cloud, debt, revenue, cloud services, finance, money, Oracle's, 664, Billion
- Source: The Motley Fool — https://fool.com/investing/2026/10/17/oracles-real-growth-story-is-hiding-in-its-664-bil
- Author: Will Healy
- Published: 2026-10-17T18:00:00+00:00
- Read time: 1 min
- Topics: oracle, backlog, openai, ai cloud, debt, revenue, cloud services, finance, money
## Oracle's debt situation
Investors worry Oracle borrowed heavily to finance AI cloud transformation.
## Backlog size and debt
Oracle has $664 billion backlog with $125 billion debt to fund AI cloud services.
## OpenAI deal concerns
Nearly half of Oracle's backlog is the $300 billion OpenAI deal, raising skepticism.
## Backlog growth
Backlog grew $209 billion over 12 months, two-thirds the size of OpenAI deal.
## Q1 financials
Q1 2027 revenue exceeded $19 billion, 30% higher than previous year.
## Profitability despite debt
Net income rose 63% to $4.8 billion despite rising interest expenses.
## Key takeaway

Oracle's $664 billion backlog may fuel growth despite debt and OpenAI concerns.