{"id":89567,"date":"2026-09-21T07:03:00","date_gmt":"2026-09-21T05:03:00","guid":{"rendered":"https:\/\/trader-magazine.com\/?p=89567"},"modified":"2026-09-24T12:59:00","modified_gmt":"2026-09-24T10:59:00","slug":"oracle-zrychluje-v-oblasti-ai-cloud-roste-o-121-objem-uzavrenych-zakazek-dosahl-664-miliard-usd","status":"publish","type":"post","link":"https:\/\/trader-magazine.com\/cs\/novinky\/oracle-zrychluje-v-oblasti-ai-cloud-roste-o-121-objem-uzavrenych-zakazek-dosahl-664-miliard-usd\/","title":{"rendered":"Oracle zrychluje v oblasti AI: cloud roste o 121 %, objem uzav\u0159en\u00fdch zak\u00e1zek dos\u00e1hl 664 miliard USD"},"content":{"rendered":"\n

Spole\u010dnost Oracle vstoupila do nov\u00e9ho fisk\u00e1ln\u00edho roku s v\u00fdsledky, kter\u00e9 op\u011bt potvrdily, \u017ee jej\u00ed transformace sm\u011brem k cloudu a um\u011bl\u00e9 inteligenci nab\u00edr\u00e1 na s\u00edle. Firma p\u0159ekonala o\u010dek\u00e1v\u00e1n\u00ed trhu a vyk\u00e1zala v\u00fdrazn\u00e9 zrychlen\u00ed v oblastech, do nich\u017e v posledn\u00edch letech sm\u011b\u0159ovaly nejv\u011bt\u0161\u00ed investice. Za siln\u00fdmi \u010d\u00edsly se v\u0161ak skr\u00fdv\u00e1 i ot\u00e1zka, kter\u00e1 bude pro investory st\u00e1le d\u016fle\u017eit\u011bj\u0161\u00ed. Oracle sice rychle roste, ale cesta k dal\u0161\u00ed expanzi bude finan\u010dn\u011b mimo\u0159\u00e1dn\u011b n\u00e1ro\u010dn\u00e1. [1]<\/em><\/p>\n\n\n\n

V\u00fdsledky p\u0159ekonaly o\u010dek\u00e1v\u00e1n\u00ed Wall Streetu<\/h2>\n\n\n\n

Celkov\u00e9 tr\u017eby spole\u010dnosti Oracle dos\u00e1hly 19,3 miliardy USD a meziro\u010dn\u011b vzrostly o 30 %, p\u0159i\u010dem\u017e analytici podle \u00fadaj\u016f LSEG o\u010dek\u00e1vali p\u0159ibli\u017en\u011b 19,14 miliardy USD. Upraven\u00fd zisk na akcii dos\u00e1hl 1,92 USD oproti o\u010dek\u00e1van\u00fdm 1,74 USD. Siln\u00fd r\u016fst se projevil i na provozn\u00ed \u00farovni, kdy provozn\u00ed zisk podle GAAP vzrostl o 57 % na 6,7 miliardy USD a \u010dist\u00fd zisk p\u0159ipadaj\u00edc\u00ed na b\u011b\u017en\u00e9 akcion\u00e1\u0159e se zv\u00fd\u0161il o 60 % na 4,7 miliardy USD.<\/p>\n\n\n\n

V\u00fdsledky v\u0161ak z\u00e1rove\u0148 ukazuj\u00ed, jak rychle se m\u011bn\u00ed samotn\u00e1 struktura spole\u010dnosti Oracle. Cloud ji\u017e vygeneroval tr\u017eby ve v\u00fd\u0161i 11,6 miliardy USD a tvo\u0159il p\u0159ibli\u017en\u011b 60 % celkov\u00fdch p\u0159\u00edjm\u016f spole\u010dnosti. Naopak tr\u017eby ze softwaru poklesly o 3 % na 5,5 miliardy USD, co\u017e spole\u010dnost Oracle p\u0159ipisuje pokra\u010duj\u00edc\u00edmu p\u0159echodu z\u00e1kazn\u00edk\u016f z tradi\u010dn\u00edch lok\u00e1ln\u00edch \u0159e\u0161en\u00ed do cloudu. Tr\u017eby z hardwaru vzrostly o 15 % na 774 milion\u016f USD a tr\u017eby ze slu\u017eeb se zv\u00fd\u0161ily o 5 % na 1,4 miliardy USD. Spole\u010dnost se tak st\u00e1le v\u00edce vzdaluje od obrazu tradi\u010dn\u00edho dodavatele softwaru a jej\u00ed r\u016fst stoj\u00ed p\u0159edev\u0161\u00edm na cloudov\u00e9 infrastruktu\u0159e.1<\/sup><\/p>\n\n\n\n

Cloudov\u00e1 infrastruktura se st\u00e1v\u00e1 hlavn\u00edm motorem r\u016fstu<\/h2>\n\n\n\n

Nejv\u00fdrazn\u011bj\u0161\u00edm \u010d\u00edslem \u010dtvrtlet\u00ed byl r\u016fst segmentu Oracle Cloud Infrastructure. Jeho tr\u017eby meziro\u010dn\u011b vysko\u010dily o 121 % na 7,4 miliardy USD. Cloudov\u00e9 aplikace rostly podstatn\u011b pomaleji, a to o 10 % na 4,2 miliardy USD. Tento rozd\u00edl jasn\u011b ukazuje, kde dnes le\u017e\u00ed hlavn\u00ed zdroj expanze spole\u010dnosti Oracle. Firma t\u011b\u017e\u00ed z prudk\u00e9ho r\u016fstu popt\u00e1vky po v\u00fdpo\u010detn\u00ed kapacit\u011b pot\u0159ebn\u00e9 pro tr\u00e9nov\u00e1n\u00ed a provoz model\u016f um\u011bl\u00e9 inteligence.1<\/sup><\/p>\n\n\n\n

Oracle z\u00e1rove\u0148 b\u011bhem \u010dtvrtlet\u00ed dodal dal\u0161\u00edch 850 megawatt\u016f kapacity datov\u00fdch center. Od konce p\u0159edchoz\u00edho \u010dtvrtlet\u00ed poskytl sv\u00fdm z\u00e1kazn\u00edk\u016fm vyu\u017e\u00edvaj\u00edc\u00edm AI cloud v\u00edce ne\u017e 300 tis\u00edc grafick\u00fdch procesor\u016f a t\u00e9m\u011b\u0159 ztrojn\u00e1sobil objem dodan\u00e9 kapacity ve srovn\u00e1n\u00ed se \u010dtvrt\u00fdm \u010dtvrtlet\u00edm fisk\u00e1ln\u00edho roku 2026. To je d\u016fle\u017eit\u00e9 zejm\u00e9na proto, \u017ee popt\u00e1vka po AI cloudu podle spole\u010dnosti st\u00e1le roste rychleji ne\u017e dostupn\u00e1 nab\u00eddka. Oracle tedy v sou\u010dasn\u00e9 dob\u011b ne\u0159e\u0161\u00ed nedostatek z\u00e1kazn\u00edk\u016f, ale sp\u00ed\u0161e to, jak rychle dok\u00e1\u017ee vybudovat dostate\u010dnou infrastrukturu pro jejich obsluhu.1<\/sup><\/p>\n\n\n\n

Objem smluvn\u011b sjednan\u00fdch objedn\u00e1vek ve v\u00fd\u0161i 664 miliard USD d\u00e1v\u00e1 r\u016fstu dal\u0161\u00ed rozm\u011br<\/h2>\n\n\n\n

Je\u0161t\u011b v\u011bt\u0161\u00ed pozornost ne\u017e samotn\u00e9 tr\u017eby si z\u00edskal objem zb\u00fdvaj\u00edc\u00edch smluvn\u00edch z\u00e1vazk\u016f spole\u010dnosti Oracle. RPO dos\u00e1hlo rekordn\u00edch 664 miliard USD, co\u017e p\u0159edstavuje meziro\u010dn\u00ed n\u00e1r\u016fst o 209 miliard USD. Jen b\u011bhem prvn\u00edho \u010dtvrtlet\u00ed podepsala spole\u010dnost nov\u00e9 smlouvy na cloudov\u00e9 slu\u017eby v oblasti um\u011bl\u00e9 inteligence v hodnot\u011b v\u00edce ne\u017e 30 miliard USD. Hodnota RPO je pro investory d\u016fle\u017eit\u00e1, proto\u017ee p\u0159edstavuje ji\u017e smluvn\u011b sjednan\u00e9 slu\u017eby, kter\u00e9 se teprve postupn\u011b prom\u011bn\u00ed ve vykazovan\u00e9 tr\u017eby.1<\/sup><\/p>\n\n\n\n

Spole\u010dnost Oracle o\u010dek\u00e1v\u00e1, \u017ee p\u0159ibli\u017en\u011b polovina sou\u010dasn\u00e9ho objemu sjednan\u00fdch objedn\u00e1vek se prom\u011bn\u00ed v tr\u017eby b\u011bhem n\u00e1sleduj\u00edc\u00edch 36 m\u011bs\u00edc\u016f. Hodnota 664 miliard USD z\u00e1rove\u0148 v\u00fdrazn\u011b p\u0159ekonala odhad analytik\u016f ve v\u00fd\u0161i p\u0159ibli\u017en\u011b 639,9 miliardy USD. D\u016fle\u017eit\u00e1 je tak\u00e9 struktura nov\u00fdch smluv. Velk\u00e1 \u010d\u00e1st z nich vyu\u017e\u00edv\u00e1 platby od z\u00e1kazn\u00edk\u016f p\u0159edem nebo hardware financovan\u00fd samotn\u00fdmi klienty, tak\u017ee Oracle tvrd\u00ed, \u017ee nov\u00e9 objedn\u00e1vky nevy\u017eaduj\u00ed dal\u0161\u00ed nav\u00fd\u0161en\u00ed pl\u00e1novan\u00e9ho kapit\u00e1lu. To m\u016f\u017ee b\u00fdt z\u00e1sadn\u00ed, proto\u017ee spole\u010dnost pot\u0159ebuje rostouc\u00ed objem sjednan\u00fdch objedn\u00e1vek prom\u011bnit v tr\u017eby, ani\u017e by stejn\u00fdm tempem zvy\u0161ovala tlak na svou rozvahu. [2]<\/p>\n\n\n\n

Expanze v oblasti AI m\u00e1 vysokou cenu<\/h2>\n\n\n\n

Siln\u00fd r\u016fst cloudu v\u0161ak s sebou nese mimo\u0159\u00e1dn\u011b vysok\u00e9 investice. Kapit\u00e1lov\u00e9 v\u00fddaje spole\u010dnosti Oracle dos\u00e1hly v prvn\u00edm \u010dtvrtlet\u00ed p\u0159ibli\u017en\u011b 28,5 miliardy USD. Spole\u010dnost vytvo\u0159ila provozn\u00ed cash flow ve v\u00fd\u0161i 23 miliard USD, co\u017e p\u0159edstavovalo meziro\u010dn\u00ed n\u00e1r\u016fst o 184 %, av\u0161ak po zapo\u010d\u00edt\u00e1n\u00ed investic z\u016fstalo voln\u00e9 cash flow p\u0159ibli\u017en\u011b 5,4 miliardy USD v m\u00ednusu. V\u00fdsledek byl p\u0159esto lep\u0161\u00ed, ne\u017e o\u010dek\u00e1val Wall Street, kde analytici po\u010d\u00edtali s negativn\u00edm voln\u00fdm cash flow ve v\u00fd\u0161i p\u0159ibli\u017en\u011b 9,6 miliardy USD.12<\/sup><\/p>\n\n\n\n

\u010c\u00e1st finan\u010dn\u00edho tlaku p\u0159itom p\u0159eb\u00edraj\u00ed samotn\u00ed z\u00e1kazn\u00edci. Z kapit\u00e1lov\u00fdch v\u00fddaj\u016f za prvn\u00ed \u010dtvrtlet\u00ed bylo p\u0159ibli\u017en\u011b 11,36 miliardy USD pokryto p\u0159edem uhrazen\u00fdmi platbami klient\u016f. Spole\u010dnost Oracle z\u00e1rove\u0148 nad\u00e1le po\u010d\u00edt\u00e1 s ro\u010dn\u00edmi kapit\u00e1lov\u00fdmi v\u00fddaji v rozmez\u00ed 90 a\u017e 95 miliard USD a b\u011bhem \u010dtvrtlet\u00ed dokon\u010dila prodej nov\u00fdch akci\u00ed v hodnot\u011b 20 miliard USD. Spole\u010dnost pl\u00e1nuje v pr\u016fb\u011bhu aktu\u00e1ln\u00edho fisk\u00e1ln\u00edho roku z\u00edskat prost\u0159ednictv\u00edm dluhu a vlastn\u00edho kapit\u00e1lu celkem p\u0159ibli\u017en\u011b 40 miliard USD. Pr\u00e1v\u011b zp\u016fsob financov\u00e1n\u00ed dal\u0161\u00ed expanze z\u016fst\u00e1v\u00e1 jedn\u00edm z hlavn\u00edch t\u00e9mat, kter\u00e1 investo\u0159i u spole\u010dnosti Oracle sleduj\u00ed.1<\/sup><\/p>\n\n\n\n

Trh chce vid\u011bt nejen r\u016fst, ale i n\u00e1vrat hotovosti<\/h2>\n\n\n\n

Veden\u00ed zat\u00edm v\u011b\u0159\u00ed, \u017ee vysok\u00e9 tempo bude pokra\u010dovat. Pro druh\u00e9 \u010dtvrtlet\u00ed o\u010dek\u00e1v\u00e1 r\u016fst celkov\u00fdch tr\u017eeb v americk\u00fdch dolarech mezi 30 a 34 % a r\u016fst tr\u017eeb z cloudov\u00fdch slu\u017eeb mezi 65 a 71 %. Upraven\u00fd zisk na akcii by m\u011bl dos\u00e1hnout 1,85 a\u017e 1,93 USD. Za cel\u00fd fisk\u00e1ln\u00ed rok 2027 spole\u010dnost Oracle o\u010dek\u00e1v\u00e1 tr\u017eby ve v\u00fd\u0161i minim\u00e1ln\u011b 90 miliard USD a zv\u00fd\u0161ila v\u00fdhled upraven\u00e9ho zisku na akcii z 8,05 USD na 8,10 USD.1<\/sup> [3]<\/p>\n\n\n\n

\"V\u00fdvoj
V\u00fdvoj ceny akci\u00ed spole\u010dnosti Oracle za posledn\u00edch p\u011bt let* Zdroj: TradingView<\/em><\/figcaption><\/figure>\n\n\n\n

Reakce akciov\u00e9ho trhu v\u0161ak uk\u00e1zala, \u017ee samotn\u00fd r\u016fst investor\u016fm ji\u017e nesta\u010d\u00ed. Akcie spole\u010dnosti Oracle po zve\u0159ejn\u011bn\u00ed v\u00fdsledk\u016f nejprve v prodlou\u017een\u00e9m obchodov\u00e1n\u00ed vzrostly p\u0159ibli\u017en\u011b o 4 % a b\u011bhem n\u00e1sleduj\u00edc\u00ed seance se dostaly a\u017e o 7,8 % v\u00fd\u0161e. Pozd\u011bji v\u0161ak zisky smazaly a den uzav\u0159ely p\u0159ibli\u017en\u011b o 2 % n\u00ed\u017ee.* Trh tak ocenil rekordn\u00ed objem uzav\u0159en\u00fdch zak\u00e1zek, r\u016fst v oblasti cloudu a lep\u0161\u00ed cash flow, z\u00e1rove\u0148 v\u0161ak z\u016fstal opatrn\u00fd kv\u016fli vysok\u00fdm kapit\u00e1lov\u00fdm v\u00fddaj\u016fm, rostouc\u00edmu financov\u00e1n\u00ed a nejistot\u011b ohledn\u011b dlouhodob\u00e9 ziskovosti datov\u00fdch center. N\u00e1sleduj\u00edc\u00ed \u010dtvrtlet\u00ed proto uk\u00e1\u017eou, zda se spole\u010dnosti Oracle poda\u0159\u00ed prom\u011bnit 664 miliard USD sjednan\u00fdch objedn\u00e1vek na tr\u017eby dostate\u010dn\u011b rychle, aby rostouc\u00ed cloudov\u00fd segment postupn\u011b za\u010dal financovat svou vlastn\u00ed expanzi. Pr\u00e1v\u011b to rozhodne, zda se dne\u0161n\u00ed boom v oblasti um\u011bl\u00e9 inteligence prom\u00edtne i do dlouhodob\u011b vy\u0161\u0161\u00ed hodnoty pro akcion\u00e1\u0159e.13<\/sup> [4]<\/p>\n\n\n\n

David Matulay, analytik InvestingFox<\/a><\/h2>\n\n\n\n

[1,2,3,4] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed vych\u00e1zej\u00ed z p\u0159edpoklad\u016f a aktu\u00e1ln\u00edch o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 mohou b\u00fdt nep\u0159esn\u00e1, nebo z aktu\u00e1ln\u00edho ekonomick\u00e9ho prost\u0159ed\u00ed, kter\u00e9 se m\u016f\u017ee zm\u011bnit. Takov\u00e1 prohl\u00e1\u0161en\u00ed nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti. Zahrnuj\u00ed rizika a dal\u0161\u00ed nejistoty, kter\u00e9 lze jen t\u011b\u017eko p\u0159edv\u00eddat. Skute\u010dn\u00e9 v\u00fdsledky se mohou podstatn\u011b li\u0161it od v\u00fdsledk\u016f vyj\u00e1d\u0159en\u00fdch nebo implikovan\u00fdch v jak\u00fdchkoli v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n\n\n\n

* \u00dadaje t\u00fdkaj\u00edc\u00ed se minulosti nejsou z\u00e1rukou budouc\u00edch v\u00fdnos\u016f.<\/p>\n\n\n\n

Upozorn\u011bn\u00ed! Tento marketingov\u00fd materi\u00e1l nen\u00ed a nesm\u00ed b\u00fdt ch\u00e1p\u00e1n jako investi\u010dn\u00ed poradenstv\u00ed. \u00dadaje t\u00fdkaj\u00edc\u00ed se minulosti nejsou z\u00e1rukou budouc\u00edch v\u00fdnos\u016f. Investice v ciz\u00ed m\u011bn\u011b mohou ovlivnit v\u00fdnosy v d\u016fsledku kurzov\u00fdch v\u00fdkyv\u016f. Ve\u0161ker\u00e9 obchody s cenn\u00fdmi pap\u00edry mohou v\u00e9st jak k zisk\u016fm, tak ke ztr\u00e1t\u00e1m. V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed p\u0159edstavuj\u00ed p\u0159edpoklady a aktu\u00e1ln\u00ed o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 nemus\u00ed b\u00fdt p\u0159esn\u00e1, nebo vych\u00e1zej\u00ed z aktu\u00e1ln\u00edho ekonomick\u00e9ho prost\u0159ed\u00ed, kter\u00e9 se m\u016f\u017ee zm\u011bnit. Tato prohl\u00e1\u0161en\u00ed nezaru\u010duj\u00ed budouc\u00ed v\u00fdkonnost. InvestingFox<\/a> je obchodn\u00ed zna\u010dka spole\u010dnosti CAPITAL MARKETS, o.c.p., a.s., regulovan\u00e9 N\u00e1rodn\u00ed bankou Slovenska.<\/p>\n\n\n\n

*Jedn\u00e1 se o placenou spolupr\u00e1ci<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Spole\u010dnost Oracle vstoupila do nov\u00e9ho fisk\u00e1ln\u00edho roku s v\u00fdsledky, kter\u00e9 op\u011bt potvrdily, \u017ee jej\u00ed transformace sm\u011brem k cloudu a um\u011bl\u00e9 inteligenci nab\u00edr\u00e1 na s\u00edle. Firma p\u0159ekonala o\u010dek\u00e1v\u00e1n\u00ed trhu a vyk\u00e1zala v\u00fdrazn\u00e9 zrychlen\u00ed v oblastech, do nich\u017e v posledn\u00edch letech sm\u011b\u0159ovaly nejv\u011bt\u0161\u00ed investice. Za siln\u00fdmi \u010d\u00edsly se v\u0161ak skr\u00fdv\u00e1 i ot\u00e1zka, kter\u00e1 bude pro investory st\u00e1le […]<\/p>\n","protected":false},"author":44,"featured_media":89633,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[248],"tags":[4940,4966,5640,5658],"class_list":["post-89567","post","type-post","status-publish","format-standard","has-post-thumbnail","category-novinky","tag-ekonomika","tag-investice","tag-oracle","tag-usa"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t