Oracle and OpenAI showcase AI tools, skip financing details investors demand

At Oracle AI World, Oracle co-CEO Clay Magouyrk and OpenAI CEO Sam Altman demonstrated ChatGPT and Codex integrations, highlighting AI adoption within Oracle products. However, they avoided addressing Oracle's $664 billion AI contract backlog and negative free cash flow. Oracle reports negative free cash flow of $5 billion, while capital spending reached $28.5 billion. Analysts note OpenAI comprises about half of Oracle's backlog, raising questions about the sustainability of Oracle's AI revenue model.