AI D-A-M-N The latest AI news, AI products, and AI projects platform.
Oracle Stock Hits Record High on Cloud and AI Growth

AI D-A-M-N

, Welcome to AI D-A-M-N! Discover the most amazing latest AI news, innovative AI products, and groundbreaking AI projects. From ChatGPT to cutting-edge models, we curate the AI developments that make you go ' D A M N!' - your daily dose of mind-blowing artificial intelligence.
AI D-A-M-N/Oracle Stock Hits Record High on Cloud and AI Growth

Oracle Stock Hits Record High on Cloud and AI Growth

Oracle Reaches New Stock Peak Amid Cloud and AI Expansion

Oracle Corporation (NYSE: ORCL) saw its shares climb 4% to a record high this week as investors reacted to news of a major cloud computing contract expected to generate $30 billion in annual revenue. The deal, set to be formally announced by CEO Safra Catz at an upcoming company meeting, represents one of Oracle's largest cloud agreements to date.

The $30 Billion Cloud Deal

According to SEC filings, the transaction will begin contributing to Oracle's financials starting in fiscal year 2028. While specific client details remain confidential, industry analysts speculate the agreement involves either a government entity or major tech firm expanding its cloud infrastructure.

Image

Catz noted in prepared remarks: "Oracle started fiscal 2026 strongly. Our multi-cloud database revenue continues growing at over 100%, and we've signed several large cloud service agreements." She emphasized this particular deal would contribute $3+ billion annually beginning in FY2028 but won't impact current FY2026 guidance.

AI Partnerships Fuel Growth

The cloud announcement comes amid Oracle's aggressive push into artificial intelligence:

  • Stargate Initiative: $Billion joint venture with OpenAI and SoftBank for AI infrastructure
  • Middle East Expansion: New data center investments in UAE
  • IBM Collaboration: Recently announced AI partnership combining both companies' technologies

Financial Performance

Year-to-date, Oracle shares have surged 33%, outpacing many tech peers. The company recently posted its strongest weekly performance since 2001 following better-than-expected earnings. Key drivers include:

  • Cloud revenue growth exceeding 100%
  • Increased enterprise adoption of Oracle's AI cloud solutions
  • Strategic partnerships positioning Oracle in generative AI infrastructure

Key Points:

  1. Oracle stock hit all-time high after $30B cloud deal announcement
  2. Revenue from new contract expected starting FY2028
  3. Company maintains FY2026 guidance despite major new business
  4. AI initiatives complement core cloud growth strategy
  5. Shares up 33% YTD on strong financial performance