Oracle's Data Center Budget Lifts HPE and Dell 12%
US markets are closed for the weekend. The next session opens Monday, September 14, at 9:30 a.m. ET (4:30 p.m. in Istanbul).
Friday's largest move belonged to server makers. Hewlett Packard Enterprise rose 12.2% and Dell 11.5%. For both, it was the biggest single-session gain of 2026.
Neither move came from their own earnings. On Thursday evening Oracle reconfirmed fiscal 2027 capital expenditure of $90B to $95B, with net cash capex expected to stay under $70B after customer prepayments. Most of that money goes into AI racks, cooling systems and networking hardware.
Oracle's cost line is HPE's and Dell's revenue line. On Thursday night the market read the report as a cloud revenue story. On Friday it read it as a hardware order book.
The day's second move was in oil. Brent fell 2.98% to $104.42 and WTI fell 2.4% to $100.05. Brent still finished the week up 8.7%.
The reason was diplomacy. Iranian state media said Tehran will meet Gulf states in Oman to discuss the Strait of Hormuz. The retreat in crude did not take pressure off the bond market: the 10-year Treasury yield closed at 4.96%, up about 20 basis points on the week and the highest since 2023.
