Oracle reported 30% YoY revenue growth to $19.3B in Q1 FY2027, driven primarily by Infrastructure business delivering 850MW additional data center compute capacity. Cloud/AI backlog jumped to $664B with new contracts exceeding $30B, with half expected to convert to revenue within 36 months. IaaS revenue surged 121% while cloud services overall grew 62%, demonstrating strong AI infrastructure demand despite negative free cash flow of $5.4B tied to capital investments now financed partially by customer prepayments.