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Oracle surges on AI cloud growth as customers race to secure computing capacity
Oracle forecasts cloud infrastructure revenue to reach $144 billion in 2030, driven by AI demand, with $455 billion in remaining obligations, up 359% year-over-year, analysts noted.
- Oracle's stock surged up to 43% on Wednesday following an announcement of significant advancements in its artificial intelligence-driven cloud offerings and the securing of four multibillion-dollar agreements.
- The surge followed rapid global AI adoption and Oracle's strategic pivot from its traditional database software toward high-powered AI cloud infrastructure.
- Oracle's cloud infrastructure revenue rose 55% to $3.3 billion this quarter, and its remaining performance obligations reached $455 billion, a 359% year-over-year increase.
- CEO Safra Catz called the quarter "astonishing" and forecasted signing additional multibillion-dollar customers, while insiders highlighted an expanding pipeline of cloud agreements as "extraordinary."
- This growth positions Oracle as a vital AI infrastructure provider, potentially boosting its market value by $234 billion and nearing the trillion-dollar market cap club.
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Coverage Details
Total News Sources41
Leaning Left3Leaning Right3Center11Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
L 18%
C 65%
R 18%
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