Oracle Corporation

Core software (database support and SaaS) exhibits strong pricing power given mission‑criticality and license constructs. Oracle’s non‑GAAP operating margin remains in the 40 percent range, consistent with premium enterprise software economics.

However, OCI AI infrastructure is in land‑grab mode: early‑stage GPU rental margins are reported to be low‑teens to low‑20s and will likely scale up as utilization and long‑term contracts mature. The blend yields solid overall pricing power, with a path to expand as AI capacity fills and Oracle captures higher‑value database‑adjacent AI workloads.