Fireside Alpha(@firesidealpha):Oracle CFO Hilary Maxson says Oracle is renewing 4-year-old GPUs at 20% premiums to their original contract price “Of course there’s a question of recontracting and the necessity for the renewal of GPUs at the end of our various contracts. Mahesh walked through the differentiation we have in terms of technology and how we’ll continue to drive value for our customers over time. We’re building a business for today and tomorrow, and we expect to recontract at similar margin rates or better than what we have today.” “In the case of renewal of GPUs or other IT equipment, we gave a real life example in our Q1 where we’re selling or renewing 4-year GPUs at 20% premiums to their original contract price. We put that information into the slide here. We think that’s a powerful example of the potential upside from the GPUs we have in our portfolio today. We won’t count on it, but we do think that these are valuable assets both for today and into the future.”

2026.10.28 19:01

Oracle CFO Hilary Maxson says Oracle is renewing 4-year-old GPUs at 20% premiums to their original contract price “Of course there’s a question of recontracting and the necessity for the renewal of GPUs at the end of our various contracts. Mahesh walked through the differentiation we have in terms of technology and how we’ll continue to drive value for our customers over time. We’re building a business for today and tomorrow, and we expect to recontract at similar margin rates or better than what we have today.” “In the case of renewal of GPUs or other IT equipment, we gave a real life example in our Q1 where we’re selling or renewing 4-year GPUs at 20% premiums to their original contract price. We put that information into the slide here. We think that’s a powerful example of the potential upside from the GPUs we have in our portfolio today. We won’t count on it, but we do think that these are valuable assets both for today and into the future.”

Fireside Alpha@firesidealpha

2026.10.27 19:49

Gavin Baker says the compute market is now in contango per Silicon Data and his portfolio companies are shocked at how much more they have to pay for clusters in 2027 “You know, Silicon Data, which I do think is, my firm is an investor in them, but I do think they’re the most authoritative data source. Carmen Li, the founder, stood up at GTC and said that the compute market is now in contango. It’s not just that the spot market is tight. If you want a cluster a year from now, you have to pay a lot of money." "And then this is maybe another discontinuity between public and private markets. But just the number of companies we have in our portfolio who are like, okay, we got a cluster of 4,000 Blackwells, and we got it in May or June ‘26, and we wanna bring on another cluster of 4,000 in September 2027, and they’re shocked by how much more they have to pay in the future." "And it’s not like everybody is unaware of this. Everybody’s aware of the supply that’s coming on. But even with all of that supply coming on, it is hard for the companies in our portfolio to find compute even well into ‘27. So for, you know, all the commodity experts who are focused on backwardation and what that implied, I got news for you. We’re not in backwardation anymore.”

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