Reported 30 days ago
Oracle shares surged over 10% following strong first-quarter results, driven by its push to integrate AI into cloud services, which attracted more customers and narrowed the gap with industry leaders. Revenue from cloud products increased by 21% to $5.6 billion, contributing to total revenue of $13.31 billion that exceeded expectations. With growing AI infrastructure bookings and partnerships with major cloud providers like AWS and Google Cloud, Oracle's market value could rise by around $39 billion as the company continues to invest in AI technology.
Source: YAHOO