New Delhi, June 30 -- Oracle Corp. said on Monday it has signed a cloud services deal that it expects to contribute over $30 billion in annual revenue starting in the fiscal year 2028.

In a regulatory filing, Oracle Chief Executive Officer Safra Catz said revenue from Oracle's namesake database that runs on other clouds continues to grow more than 100%.

Oracle shares jumped 4.86% on Monday in New York. They are up 26% this year through Friday's close.

In recent years, Oracle has gained traction in the competitive market for renting out computing power over the internet, in part by targeting clients focused on artificial intelligence work.

Earlier this year, Oracle had announced a joint venture dubbed Stargate to provide OpenAI with ma...