Oracle shares posted their biggest gain since 1992
2025-09-10 15:07:22
Oracle Inc. (ORCL. N) shares posted their biggest gain since 1992 after the company posted a positive outlook for its cloud business, solidifying the software maker's position in the race to support artificial intelligence computing needs. Shares of the company surged 41 percent to a market capitalization of $947 billion in early trading in New York on Wednesday. Artificial intelligence-related stocks such as chip developer Nvidia and Asian suppliers also rose. Oracle, best known for its database software, has recently had success in the red-hot cloud computing market and is emerging as a major provider of artificial intelligence computing power, competing with cloud computing leaders Amazon.com Inc., Microsoft Corp and Google Inc. (GOOG. O). Earlier this summer, it signed an unprecedented deal with ChatGPT operator OpenAI to provide it with 4.5 gigawatts of data center capacity.
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