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There’s no denying the trajectory of artificial intelligence (AI) over the past few years. Many of the companies that have pivoted to adopt this game-changing technology have ascended the ranks of the world’s largest companies when measured by market cap. When the stock market closed on Tuesday, there were 11 members of the vaunted $1 trillion club, the vast majority of which have significant ties to AI.

After the market close, industry stalwart Oracle (ORCL 1.37%) reported its recent quarterly results, and despite missing Wall Street’s expectations, the stock surged higher and never looked back. Why? In a stunning turn of events, the company signed numerous multibillion-dollar contracts that kicked its future growth potential into overdrive.

Given the magnitude of these deals, it seems the writing is on the wall for Oracle to join this elite fraternity. The company’s growth is at a tipping point, and management’s commentary suggests the company has a long AI-centric runway for growth ahead.

Image source: Getty Images.

A trusted partner

Oracle holds a coveted place in the technology community, as roughly 98% of Global Fortune 500 companies make up its customer rolls. The industry stalwart provides its customers with a strategic combination of cloud, database, and enterprise software. Naturally, when the shift to AI began in earnest, this captive audience began to turn to Oracle for its expanding collection of cloud and AI solutions.

The company’s growth has been uneven, but the future looks bright. During Oracle’s fiscal 2026 first quarter (ended Aug. 31), total revenue grew 11% year over year to $14.9 billion, while its adjusted earnings per share (EPS) of $1.47 grew by 6%. Both numbers accelerated compared to Q4, but missed Wall Street’s consensus estimates, which called for revenue of $15 billion and adjusted EPS of $1.48.

However, that wasn’t the headline. Last quarter, CEO Safra Catz noted that the company had reached a “tipping point,” noting that revenue growth was accelerating, “and it’s only going up from here.”

That turned out to be an understatement. Oracle reported explosive growth in its remaining performance obligation (RPO) — or contractual obligations not yet included in revenue — which skyrocketed 359% year over year to $455 billion, up from $138 billion in Q4.

Catz explained, “We signed four multibillion-dollar contracts with three different customers in Q1,” calling the results “astonishing.” He went on to say that demand for Oracle Cloud “continues to build.” The company expects to sign “several additional multi-billion-dollar customers and RPO is likely to exceed half a trillion dollars.”

Looking to the future, Oracle is forecasting Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this year — but that’s just the beginning:

• Fiscal 2027 cloud revenue of $32 billion, up 78%.
• Fiscal 2028 cloud revenue of $73 billion, up 128%.
• Fiscal 2029 cloud revenue of $144 billion, up 97%.

Mind you, this is just Oracle Cloud Infrastructure revenue, and Catz noted that “most of the revenue in this five-year forecast is already booked in our reported RPO.” That means that any future contracts will probably increase those growth targets.

The path to $1 trillion just got much shorter

Oracle is leveraging its position as a trusted partner to help customers choose suitable AI and cloud solutions and profit from the growing adoption of generative AI.

Before today’s results, Wall Street was expecting Oracle to generate revenue of $66.75 billion in its fiscal 2026 (which began June 1), giving it a forward price-to-sales (P/S) ratio of about 10. Assuming its P/S remained constant, Oracle needed to generate revenue of approximately $98 billion annually to support a $1 trillion market cap. Given those figures, Oracle could have achieved a $1 trillion market cap before 2028.

Wall Street hasn’t yet had time to update its models, but given the magnitude of the company’s results, previous forecasts are out the window. Barring unforeseen circumstances, I predict Oracle will join the $1 trillion club within the next 12 months.

Estimates regarding the market potential of generative AI continue to ratchet higher. Big Four accounting firm Price Waterhouse Coopers (PwC) calculates the opportunity could be worth as much as $15.7 trillion annually by 2030, which illustrates the magnitude of the opportunity.

Given the recent contract wins, Oracle has proven that it is leveraging its experience to profit from this windfall. The writing is on the wall, and Oracle is poised to join the fraternity of trillionaires in short order.

White sand, dark past on the German Baltic

Spend some time on Rügen, Germany’s largest island, on its Baltic coast. White sandy beaches and darker history await. Visit Lauterbach, by the sea. From there, catch the coastal ferry to the tiny fishing village of Baabe, a near three-mile (5km) walk/cycle through rolling countryside and catch the “Raging Roland” steam train back again. Not far away, you can walk the cliffs that inspired Caspar David Friedrich. For a very different day, visit Prora and its massive beachside concrete apartment blocks, originally planned as a Nazi holiday complex, before becoming a Soviet army barracks, and now a part ruin, part reunification commercial and residential redevelopment.
Richard

Deserted beaches on the Danish Riviera

Who needs the scorching Med when you have the Danish Riviera. The water is clean and refreshing. No wetsuits allowed – you’ll be laughed off the beach. Danish summer hols are in July so you’ll have the beach to yourself in August. Book a summer cottage near Gilleleje, a charming fishing village about an hour from Copenhagen. Denmark is expensive, so self-catering is best. Ice-cream at Hansens. Lunch in Gilleleje harbour. Culture at Louisiana modern art museum and Hamlet’s Castle in Helsingør. And day trips to Copenhagen.
Christina

To Hel and back in Poland

Hel is a tiny spit of land north of Gdańsk. Guys selling hot smoked fish meet you as you get off the ferry. Getting there is an adventure in itself, as the ferry takes you past the colossal cranes of Gdańsk’s shipyards. Long sandy beaches, pine forests and a small picturesque village make Hel a fantastic place to spend a few days. Famous for its seals, as well as its seaside, it really is the opposite of its fiery namesake.
Lucy Moore

Swimming and seafood in Sweden

We’ve just returned from a Scandi road trip and had four fantastic, chilled nights on Björkö. It’s only 30 minutes from central Gothenburg by (free!) car ferry and regular buses. Great swimming and beaches; micro breweries and fresh fish; sunsets and sunrises to die for; days out in Gothenburg, including the excellent Liseberg theme park, with no queues for proper scary rides – highly recommended.
James

Rowing in Finland’s Åland archipelago

Fuelled by our kids’ love of flags and a craving for quiet, we chose Åland, thousands of islands scattered between Sweden and Finland like granite gods wept there. We cycled between clouds and old boat sheds, stopping for smoked herring and cardamom pancakes with stewed prunes (sexier than it sounds). By the time Ivar lent us ancient alder oars to row to the next island, knowing they’d be returned by a friend, we’d learned that Åland doesn’t welcome visitors – it absorbs them.
Eliza Ainley

Cliff-edge drama in north-west Spain

Based in Oviedo (the ideal compact city), in Asturias, we would explore the coast one day, mountains the next, finding unexpected Gaudí buildings, gingerbread houses in Ribadesella, amazing cemeteries on cliff edges, enjoyable easy driving on perfect roads, gorgeous unspoilt beaches and great weather! Few tourists, thousands of Camino pilgrims along the way and (very weak) cider! Cannot wait to return and yes, we’d love to live there.
Annie Hargreaves

An idyllic island off Brittany, France

Camping Panorama du Rohou, near Paimpol in northern Brittany, has excellent views over to the beautiful Île de Bréhat. Walk down through the forest behind the campsite to take a short ferry ride to the island. Hire a bike or walk to explore its rocky coves and quaint villages. A lighthouse at the far end of the island has great views and is a good spot for a picnic, or to have a Breton galette or crepe at nearby Paradise Rose. Les Scènes de Bréhat is an annual festival with live music at the beginning of July; late-running ferries get you back to the mainland.
Stella

Arctic beach holiday, Norway

When we booked a trip to northern Norway’s stunning Lofoten Islands and Andøya we didn’t expect a beach holiday, but blessed with August temperatures in the high 20s we spent days swimming in the Arctic Ocean. Bleik beach on Andøya is one of the longest in Norway – “bleik” means “white” or “pale” in Norwegian, and the almost empty white sand, coupled with refreshing blue sea and the towering cliffs behind the beach, made for a perfect end to a day’s hiking. Puffins abound here, and whale watching trips are available from Andenes, just a few miles to the north.
Rachel

Seafood and sailing in Hanko, Finland

Hanko, Finland’s southernmost seaside gem, sits on a sandy dune that stretches out into the Baltic Sea. The town comes alive in early July during the celebrated Hanko Regatta, a sailing festival that draws about 200 yachts. To reach Hanko from Helsinki, take the VR train from Helsinki Central for about €15. Rent a bike once you arrive to explore the sandy beaches bordered by an ancient pine forest, historic villas and nature reserve. In the evening, enjoy fresh seafood with Baltic views and sit down for a pint of Lonkero. Don’t miss the spa scene and wild swimming!
Liina

Winning tip: Bike to the beach in North Holland

Aan Noordzee campsite, on the North Holland coast, has a simple, tranquil feel and no entertainment facilities. With separate cycleways everywhere, you can explore the beautiful coastline up to Den Helder and, by ferry, Texel island (sandy beaches, pretty towns and robust Texel sheep). An unspoilt beach walkable from the campsite awaits, with dune footpaths that lead to restaurants built on stilts. The sunsets over the North Sea are stunning. Alkmaar is accessible via a regular bus service.
Nicola Hull

June 24 (UPI) — New Yorkers are facing scorching temperatures Tuesday as they head to the polls in local elections that include the hotly contested Democratic primary race for New York City mayor between former New York Gov. Andrew Cuomo and progressive candidate Zohran Mamdani.

According to returns released as of 3 p.m. EDT, by the Board of Elections, more than 326,000 New Yorkers had voted Tuesday. More than 384,000 cast their ballot during early voting last week, which is more than double the number of early votes during the 2021 primaries for mayor.

Temperatures reached into the triple-digits Tuesday, hitting 102 degrees at John F. Kennedy International Airport, as voters in New York City braved the heat to cast their ballots. One polling site in Brooklyn had no air conditioning, leaving it up to poll workers to bring their own electric fans from home as New York’s Board of Elections provided only paper fans.

“I went to the management office and they said they didn’t convert it from heat to A/C. The air conditioning system wasn’t converted,” said a poll coordinator at the Taylor Wythe Community Center polling site. “It was supposed to be converted in April.”

One voter criticized New York City’s government for not doing better.

“Where are my tax dollars going?” said a woman, who did not want to give her name. “It’s 2025, who lets people work in this heat with no A/C?”

Primary elections in New York City use ranked-choice voting, allowing voters to express their preferences beyond just a single choice in an effort to prevent runoff elections. The candidate with the fewest votes is eliminated first, until one candidate secures 50% of the votes. New York City’s last mayoral primary took several weeks to be decided.

The turnout and interest in the Democratic race for New York City’s mayor comes as two very different candidates are pitted against each other, with nine other candidates trailing far behind the two frontrunners.

Mamdani, 33, has been a New York State representative for the 36th district of Queens since 2021. During his run for mayor, Mamdani has called for free city buses, public child care, a rent freeze and affordable housing. He has received endorsements from progressive politicians, including Democrats Sen. Bernie Sanders of Vermont and Rep. Alexandria Ocasio-Cortez of New York, and he has been accused of being anti-Semitic while arguing he is only holding Israel accountable.

Just after 5 p.m. EDT, Mamdani reminded voters, in a post on X, that there were “less than four hours to go” before the polls close.

If elected, Mamdani would become New York City’s first Muslim mayor. He has criticized a super PAC, backing Cuomo, for being Islamophobic for altering images of him in a campaign mailer.

“Fix the City” PAC defended the mailers.

“Every Fix the City ad and mailer presents Mr. Mamdani unaltered; the photos, policies and plans are his,” said Liz Benjamin, a spokesperson for the PAC.

“When you strip away his Hollywood tinsel, what you realize is that Mr. Mamdani has repeatedly embraced the rhetoric of hate,” Benjamin added. “It is far past time to disavow his own calls to ‘globalize the intifada,’ which many understood is an invitation to violence.”

Cuomo, 67, resigned as governor of New York in 2021 after more than a dozen women accused him of sexual harassment. Last month, the Justice Department launched a criminal investigation into the former governor over accusations he lied to Congress about the number of nursing home deaths in the state during the COVID-19 pandemic.

On Tuesday, Cuomo urged New Yorkers to vote early to beat the heat and reminded residents, in a post on X, that the polls are open until 9 p.m. The Board of Elections says results in the first round of voting should be released by 10 p.m. EDT.

“It’s Election Day. Together, we will save our city,” Cuomo wrote.

New York City Mayor Eric Adams is not on Tuesday’s ballot since he is running for re-election as an Independent after dropping out of the Democratic primary in April.

“No such thing as a slow day in NYC! Temps hitting 100 degrees, so we’re keeping everyone cool and healthy. Primary Day across the five boroughs,” Adams wrote Tuesday in a post on X. “Drink your water and stay cool, everyone.”

Experts say many people are being drawn to the North African region by its wide availability of high-quality hotels costing considerably less than similar properties in locations such as Spain, France and Italy

A surge in UK holidaymakers are swapping traditional European destinations for North Africa, according to travel firms.

Experts suggest the region’s appeal lies in its abundance of high-quality hotels that are significantly cheaper than similar properties in Spain, France and Italy. Egypt, Morocco and Tunisia are all seeing an influx of visitors from the UK.

Data from aviation analysts Cirium reveals that 19,847 flights are expected to serve routes from UK airports to these countries this year, more than double the 8,653 flights in 2019. In contrast, the number of flights to Spain and Portugal is predicted to rise by 10% and 9% respectively over the same period.

This indicates that many holidaymakers seeking better quality accommodation without paying more are willing to endure a longer flight, despite airlines like easyJet and Ryanair offering non-reclining seats and no onboard entertainment.

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Flights from Gatwick airport in West Sussex to Egypt’s Sharm el-Sheikh take approximately five hours and 20 minutes. This means an additional hour and 45 minutes on a plane compared to trips to the traditional southern Spanish hotspot of Alicante.

EasyJet commenced flights between Gatwick and Cape Verde, off the west coast of Africa, in March, marking its longest route serving England. These flights cover the distance of 2,332 nautical miles in six hours and 10 minutes.

Tui, the travel company, has reported a 30% increase in bookings for summer holidays in Egypt compared to last year, from both flight-only and package holiday customers. The firm also noted “double-digit growth” for Tunisia and a strong demand for Morocco.

Chris Logan, Tui’s UK commercial director, stated that these three destinations offer “fantastic value for money”, making it difficult for traditional European destinations to compete. Speaking to the PA news agency, he said: “There’s good quality accommodation and great weather beyond the traditional summer season.

“Even in the winter months temperatures are mild, making them a perfect choice for year-round travel.”

To meet the growing demand, Tui has increased its flights from the UK to North Africa this summer, introducing new routes from Stansted to Enfidha in Tunisia and from Newcastle to Agadir, Morocco. Booking.com, the online accommodation marketplace, reported a 68% increase in searches for summer breaks in Tunisia during the first five months of this year, compared with the same period in 2024.

Egypt and Morocco saw increases of 64% and 39% respectively. Nicki Tempest-Mitchell, managing director at Barrhead Travel, commented that Morocco, Egypt and Tunisia offer “incredible value for money” which is “proving increasingly attractive for holidaymakers this year”.

She added: “The investment in high-quality hotels and experiences across these regions is turning the heads of customers who may previously have favoured mainland Europe.”

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According to Julia Lo Bue-Said, chief executive of Advantage Travel Partnership, “Although favourites such as Spain and Turkey are still our top-selling destinations, it’s safe to say north Africa is a region to watch over the next few years.”

She observed a “clear trend toward value-conscious holiday planning”, attributing this to the ongoing cost of living pressures and reduced disposable incomes.

Lo Bue-Said noted: “This shift has driven growing popularity for destinations like Morocco, Egypt and Tunisia, which offer more competitive pricing and high-quality accommodation options compared to the more traditional western Mediterranean resorts.”