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Oracle Shares Surge 10% as Cloud Revenue Hits Record Highs

Oracle Shares Surge 10% as Cloud Revenue Hits Record Highs

Author:

Global Cryptocurrency

Published:

2026-03-12 07:25:02

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BTCCSquare news:

Oracle Corp. shares jumped nearly 10% after reporting explosive growth in cloud revenue, with multicloud services soaring 531% and infrastructure revenue climbing 84%. The company’s $90 billion fiscal 2027 revenue target now appears within reach as AI-driven enterprise demand accelerates.

Oracle’s contracted revenue backlog surged 325%, signaling strong future performance. Strategic AI deals with upfront payments are easing capital expenditure pressures, allowing aggressive expansion into cloud and AI markets traditionally dominated by AWS and Microsoft Azure.

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