Over the past few days, many investors gazed into the future of database king Oracle (ORCL 3.18%) and liked what they saw.

On the back of positive remarks from the company's CEO and bolstered by an apparent deal with a major artificial intelligence (AI) developer, the stock's price resolutely headed north. According to data compiled by S&P Global Market Intelligence, it rose by just under 13% during the week.

Two hot business segments

Oracle's fine week kicked off on Monday, when the company provided an update about an important business segment. Somewhat oddly, this was done with a regulatory filing framed by a quote attributed to CEO Safra Catz.

Person using a smartphone while seated at a desk with a laptop.

Image source: Getty Images.

According to the company, in a planned meeting with colleagues later that day, she was to say: "Oracle is off to a strong start in fiscal year 2026. Our MultiCloud database revenue continues to grow at over 100%, and we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in fiscal year 2028."

Oracle did not provide more details, either in the regulatory filing or in subsequent communications.

Several days later, a report published in Bloomberg said that OpenAI -- the developer of ChatGPT -- agreed to lease significant space in Oracle data centers. The financial news agency cited unnamed "people familiar with the work," as saying that OpenAI aims to rent additional capacity of roughly 4.5 gigawatts of data center power in this country.

The move is aimed at further advancing the Stargate Project, the AI partnership of Oracle, OpenAI, and tech investment enterprises SoftBank and MGX.

Cloudy days in the summer

With the rather vague, two-sentence update from Catz we can't make a highly educated guess as to how MultiCloud's wins will affect the company. That said, the stated growth rate for the business and the news about the latest contracts sounds as if it's firing on all cylinders. And although the OpenAI report is so far unconfirmed by Oracle, it also sounds like a potential money-spinner for the company.