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Oracle Shares Surge on AI-Driven Cloud Demand, Forecasts $144B Growth
Oracle Shares Surge on AI-Driven Cloud Demand, Forecasts $144B Growth
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Oracle shares jumped 25% in after-hours trading as the cloud computing giant reported explosive demand for AI infrastructure services. The company now projects fiscal-year cloud revenue of $18 billion, a 77% increase from prior guidance, with CEO Safra Catz predicting a $144 billion pipeline over four years.
Four multibillion-dollar contracts signed in Q1 signal accelerating enterprise adoption. While Q1 EPS of $1.47 and $14.9 billion revenue slightly missed estimates, Oracle's record contract backlog justifies bullish projections. CTO Larry Ellison hinted at upcoming AI infrastructure expansions during the earnings call.
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