애널리스트들은 오픈에이아이의 차세대 AGI 컴퓨팅 요구사항 발표 이후 오라클을 주요 수혜주로 주목하고 있다.

Nvidia (NASDAQ: NVDA) CEO Jensen Huang declared over the weekend that “AGI has arrived,” pointing to OpenAI’s newly launched GPT-6 Astra model as proof. OpenAI president Greg Brockman offered a slightly measured version of the same assertion, stating the company is “now moving into the AGI era.” On September 6, 2026, Brockman added via social media: “we're now moving into the AGI era (whether you view it as this model, the last one, or the next one), and could not do it without close partners.”

Despite these public statements, OpenAI has stopped short of a formal AGI declaration. Researchers behind the ARC-AGI benchmark that OpenAI cited have noted that achieving a strong score does not constitute proof of true artificial general intelligence. Regardless of whether the label ultimately sticks, Oracle Corp. (NYSE: ORCL) remains the clearest publicly traded proxy for the underlying infrastructure supporting the claim.

The company’s $300 billion, five-year compute deal with OpenAI directly powers the Stargate data-center buildout. Concurrently, OpenAI trained the Astra model on more than 100,000 Nvidia GPUs—the exact class of accelerators Oracle is racing to deploy across its cloud infrastructure. This strategic alignment places Oracle’s earnings report, scheduled for release after the market closes on Thursday, squarely in focus.

Analysts expect fiscal first-quarter EPS of $1.74 on revenue of approximately $19.14 billion, with cloud revenue growth projected at 58%–64%. The upcoming report will serve as the first comprehensive assessment of how the OpenAI contract—a portion of the $455 billion in remaining performance obligations Oracle disclosed last quarter—is translating into actual cloud revenue.

Oracle stock closed at $158.78 on Friday, still down roughly 54% from the $345.72 52-week high reached last September when the OpenAI partnership was initially announced. The shares have since recovered sharply from a $114.50 low set in late July. At the time of publication on Tuesday, Oracle stock was up 2.47% to $162.69, according to Benzinga Pro data.

Wall Street remains broadly bullish. According to Benzinga data, the consensus 12-month price target sits at $263, implying more than 50% upside from current levels. Analyst targets span a wide range, from a bearish $145 to a bullish $400.

Skeptics point to meaningful risk in that divergence. Moody’s has flagged counterparty exposure given OpenAI’s roughly $12 billion in annualized revenue against a $300 billion commitment. Furthermore, Oracle’s own capital expenditure ramp—guided toward $35 billion-plus for fiscal 2026—has raised cash-burn concerns, even as bulls argue the massive backlog justifies the spending.

With Thursday’s earnings serving as the next critical validation, Oracle is shaping up as one stock where the AGI narrative meets the balance sheet. The report will determine whether the infrastructure-backed hype converts into sustained financial results.