Oracle has appointed Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz, who transitions to a strategic role on the board amid a leadership shake-up focused on AI and cloud growth.

Sicilia, who joined Oracle in 2008 through its acquisition of Primavera Systems and started his career as a software engineer in 1993, will oversee the company's cloud infrastructure platform.

Magouyrk, an electrical engineer with prior experience at Amazon Web Services, manages Oracle’s cloud infrastructure platform and joined the company in 2014.

Oracle's stock has surged by approximately 90% in 2025, driven by strong cloud growth fueled by AI advancements, with a backlog reaching $455 billion and recent multibillion-dollar deals.

The company's robust revenue prospects are reflected in its forecast to surpass $500 billion in cloud infrastructure revenue, supporting record-high stock prices.

Oracle reaffirmed its financial outlook, projecting that its cloud infrastructure revenue will exceed half a trillion dollars in the coming years.

This financial confidence is bolstered by a $455 billion contract backlog for FY2026 Q1, indicating strong future revenue.

The leadership transition coincides with ongoing U.S.-China negotiations over TikTok, where Oracle is involved as a key partner, with plans to store TikTok's U.S. user data on Oracle's cloud infrastructure.

Oracle is actively engaged in negotiations with the U.S. government regarding TikTok, aiming to maintain its operation in the U.S. through a partnership involving Oracle and Silver Lake.

Larry Ellison remains influential in the tech sector, involved in broader activities including potential control of TikTok’s U.S. operations, highlighting his ongoing strategic influence.

The leadership change reflects Oracle’s strategic focus on strengthening its position in AI and cloud services amidst a competitive tech landscape.

Safra Catz's departure was unexpected given her recent success, notably benefiting from the AI boom, with cloud revenues growing significantly and the company's market value nearing one trillion USD.