Reported 1 day ago
Oracle's shares jumped significantly after the company predicted a staggering $144 billion in revenue by 2030, driven by a boom in AI cloud computing. This forecast marks a major increase from the current year's expectation of $18 billion, leading to a 42% rise in share value. Despite a disappointing first quarter performance, the company's projections and multibillion-dollar contracts with major clients like OpenAI and Meta have energized investors, highlighting the rapid growth in corporate demand for AI infrastructure.
Source: YAHOO