Oracle Stock Gains on Meta Cloud Deal and Strong AI Revenue Forecast
Oracle Corporation shares surged following confirmation of a significant cloud infrastructure deal with Meta Platforms. The database software maker also revealed ambitious projections for its artificial intelligence business, forecasting $20 billion in AI-powered database revenue by fiscal 2030.
Oracle Shares Climb on Meta Partnership Confirmation
Oracle Corporation shares reportedly jumped as much as 5% on Thursday as the company confirmed a major cloud-computing agreement with social media giant Meta and provided optimistic projections for its artificial intelligence business segments. According to reports from the company’s AI World conference in Las Vegas, Oracle executives indicated they expect substantial growth in core business categories.