Reported 1 day ago
Oracle Corp. has achieved record stock highs following a historic surge in cloud commitments, significantly influenced by its multibillion-dollar contracts with OpenAI. With a 359% year-over-year increase in performance obligations, Oracle's shares have soared 82% this year. The tech sector at large has also benefited from OpenAI's substantial investments, with related companies witnessing massive market cap gains. While Oracle's market valuation briefly approached $930 billion, analysts caution about its position in the cloud market compared to larger competitors.
Source: YAHOO