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Nvidia Stock Surges on Oracle’s AI Infrastructure Spending
Nvidia Stock Surges on Oracle’s AI Infrastructure Spending
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Nvidia shares climbed 4% Wednesday afternoon, outpacing modest gains in broader indices. The rally follows Oracle's earnings report, which revealed a $455 billion backlog in remaining performance obligations—far exceeding Wall Street's $180 billion estimate.
Oracle plans to deploy $35 billion in capital expenditures during fiscal 2026, primarily for AI computing infrastructure requiring Nvidia's GPUs. "This is a historic print from Oracle with this backlog," noted Melius Research analyst Ben Reitzes during a CNBC appearance. The commitment alleviates recent concerns about slowing AI data center investments.
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