Oracle Targets $30 Billion in Free Cash Flow for FY2029

Oracle said it expects free cash flow to turn positive in the second half of FY2028 and reach at least $30 billion in FY2029, offering investors a timetable for returns from its costly AI infrastructure buildout. The company also said it would cap additional capital-market funding for its FY2027–FY2030 investment cycle at $20 billion, split between equity and gross debt. Oracle’s investor-day guidance came as investors weighed the cost of building data centers against the prospect of future cash generation.