Oracle can’t seem to add data center capacity fast enough. The company is working “as quickly as we can” to get its cloud capacity up because of its enormous backlog, CEO Safra Catz says on a call with analysts. Catz says the company has at least 40 new AI bookings worth over $1 billion that are yet to come online. Oracle is trying to focus on “much larger chunks of data center capacity” as it looks to keep pace with surging cloud demand. The company expects revenue growth to accelerate as supply constraints ease in the future, with cloud revenue already up 25% in 3Q. Shares rise 14% to $129.88 after-hours.