Reported 7 months ago
Oracle's shares surged by 9% following increased demand for its cost-effective cloud services for AI applications, potentially adding $30 billion to its $340 billion market valuation. The growth of Oracle's cloud infrastructure unit, positioned as a more economical choice compared to competitors like Google and Amazon, has attracted AI startups like OpenAI. Collaborations with OpenAI and Google Cloud further strengthen Oracle's AI platform, while competition and challenges persist in legacy software markets as small businesses transition to digital operations.
Source: YAHOO