US EditionOracle stock jumps after $30 billion annual cloud deal revealed in filing
- Oracle's CEO Safra Catz confirmed a new cloud contract worth over $30 billion, which led investors to speculate about its customer.
- Oracle anticipates a cloud infrastructure revenue growth of 70% by fiscal year-end, projecting revenues of $104 billion by fiscal 2029.
- The new customer will more than double the size of Oracle's current cloud business, significantly boosting annual revenues.
- Catz mentioned that the company started this fiscal year strong with multiple large cloud agreements already signed.
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Oracle is talking to everyone after an impressive increase in its stock market value. On Monday at noon, Oracle’s shares rose by more than 5%, positioning themselves to reach a record at the end of the day. The reason? According to the original report, the company has just signed new multi-million dollar agreements related to its cloud services. This move reinforces Oracle’s strength in the market and underlines its ability to adapt and grow. In…
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Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
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55% Center
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C 55%
R 18%
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