Oracle’s AI Cloud Boom Puts These ETFs in Focus as Cloud Infrastructure Growth Hits 121%

Oracle Corp‘s (NYSE:ORCL) accelerating AI cloud business is giving investors another way to play the artificial intelligence boom beyond Nvidia and other chipmakers, putting AI-focused ETFs with exposure to the software giant in focus.

Oracle reported first-quarter revenue of $19.3 billion, up 30% year over year, while cloud revenue jumped 62% to $11.6 billion. Oracle Cloud Infrastructure (OCI) revenue surged 121% from a year earlier, accelerating sharply from 93% growth in the previous quarter.

The company also signed more than $30 billion in new AI infrastructure contracts during the quarter, lifting remaining performance obligations (RPO) to a record $664 billion.

The strength has prompted D.A. Davidson technology analyst Gil Luria to call Oracle “by far the most attractive AI cloud,” according to CNBC. He argued that the company has effectively transformed into a “neo cloud” and now has more AI compute contract backlog than Microsoft Corp, Amazon.com, Inc and Alphabet, Inc.

That makes ETFs holding Oracle alongside other AI infrastructure leaders an increasingly interesting way to capture the trend.

AIQ Offers Broad AI Exposure

The Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) has Oracle as one of its largest holdings, alongside Microsoft, Palantir, Amazon and Nvidia. Oracle accounts for about 3.5% of the portfolio, giving investors exposure to its cloud acceleration while maintaining a diversified AI basket.

AIQ has gained 25% year to date.

MTAW Takes a Broader Infrastructure Approach

The Harbor Meta AI Lab Ecosystem ETF (NYSE:MTAW) offers another route, with Oracle accounting for roughly 4.6% of the portfolio. The fund also holds Nvidia, Taiwan Semiconductor Manufacturing Company Limited, Broadcom, CoreWeave and Arista Networks.

That gives investors exposure to multiple layers of the AI buildout, from chips and networking to cloud infrastructure and data centers.

Oracle’s spending underscores the scale of the opportunity. The company spent about $28.5 billion on capital expenditure in the quarter and continues to forecast $90 billion-$95 billion in fiscal 2027 capex.

For investors, the bigger takeaway is that the AI trade is increasingly moving beyond chips toward the cloud and infrastructure required to run AI workloads.

ETFs such as AIQ and MTAW offer exposure to that shift while reducing the risk of betting on Oracle alone. But the opportunity comes with a major caveat. Oracle’s aggressive AI expansion remains highly capital-intensive, with the company reporting roughly $5 billion in negative free cash flow for the quarter.

As AI spending moves deeper into the cloud, data centers and computing infrastructure, Oracle’s resurgence could give these ETFs another leg to the AI investment story.

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