Oracle shares rise 10 percent on strong revenue forecast
Oracle shares rose 10 percent after raising its 2027 revenue forecast to 90 billion dollars. Strong AI demand boosted contracted revenue to 553 billion.
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Shares of Oracle Corporation surged approximately 10% in pre-market trading on Wednesday as an optimistic revenue forecast alleviated concerns regarding the company's significant investments in artificial intelligence infrastructure. The software giant has directed billions of dollars toward the construction of data centers to support major partners, including OpenAI and Meta Platforms, Inc.. To balance these expenditures, the company has reduced its workforce while utilizing smaller, AI-enhanced teams to develop software for its traditional business clients.
