Oracle Corporation (ORCL)
Published 2026-03-17 • by capitalflows
Thesis Summary
Ellison is aggressively leveraging the balance sheet and income statement for the AI build-out, prioritizing long-term returns by sacrificing short-term profitability. Capex is reaching an inflection point of 'escape velocity'.
Quantitative Overlay
Detailed Deep Dive
If you want my entire thesis on Oracle, you can find it here. It is very simple, though. Larry Ellison has taken the entire company and leveraged the income statement and balance sheet to the AI build out, and he is the only major company that is pulling all negative returns into the present in order to have massive returns in the future.
The earnings call is beginning to show the escape velocity of all their capex coming into sight: